state-based data, though there are some glitches in it usually, you can take a fix on it and figure out how that filters into the jackson hole conversation. >> in a way, old bad news isn't such bad news, because things are okay now. >> easier to shrug off. >> mike, thank you. that's going to do it for "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. on target. shares of the retail giant surging, an earnings beat and turnaround in sales. does this latest report put a nail in the coffin of recession fears? we'll debate. plus, electric slide. ford pumping the brakes on a three-row electric suv and shifting its overall ev strategy. is this just a ford problem or a fresh warning for the auto industry? and later, the fountain of youth tech investing icon here to tell us why he's investing all his energy and money on

improving our golden years. the technology, the breakthroughs, and more, coming up. i'm leslie picker in for melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight, steve grasso, karen finerman, dan nathan, and guy adami. a fine group. we start with three key retail reports, showing two winners and a loser. target jumping more than 11%. the move comes despite a warning that full-year sales forecast could come in flat. tjx jumped 6%. they hiked their full-year outlook and delivered better than expected results. the big loser, though, macy's. shares plunged almost 13% after slashing their full-year forecast. so, are consumers still spending, just more deliberately? guy, it seems like that whole tradedown dynamic is still in full effect. >> eit's a thrill to have you here. you've done it once before, i wasn't here. so, this is -- >> this is like a party for me. >> it's great to have you. i think it speaks to finally, i

think, target figuring things out a little bit better. oper operationally, they were a disaster for a long time. so, if you look at their inventories, the inventories came down, sales growth wasn't a problem, good for them. with the valuation, you can say, okay, you can understand why it can levitate. but to say the health of the consumer and you look at target and try to marry the two, i don't think that's what's going on here. in terms of target, it's an operational thing for the first time in awhile. >> what does it mean about consumer behavior? >> think about last month, it seemed like a lot of consumer-oriented stuff disappointed was hit hard here, and a good example of this would be mcdonald's. the stock had been underperforming all spring and really trading -- it made a new 52-week low, just in early july. and look at the rally it's had back. so, the sentiment has changed a lot, and i think just in the last two weeks, when we go back to that jobless claims number

and the panic around how much, or how slow the economy is becoming, how quickly that's happening, to right now, where the s&p is back towards those prior highs and a lot of consumer names are acting really well, so, i'll just go back to a line i use often, the consumer, the health is as clear as mud right now. >> and macy's, the ceo there saying they're seeing more of their consumers browsing in stores rather than purchasing. so, they're looking around, but not quite in the mood to really purchase, you know, as we see things like credit card debt going higher, delinquencies going higher. inflation coming down, but still, at relatively high levels compared to a few years ago. is this something we can expect to see from a lot of retailers, steve, or is it something that's more idiosyncratic, more of a macy's, where they sit problem? >> it's probably a where they sit problem. and maybe karen would agree with this or not, it's a deal stock right now. i don't think you're pricing this as a department store any

longer, or, that's the only hope. >> i think the deal's over. i think the chance of a deal has been over for a couple weeks since they -- since brigade dropped. i don't know that anyone thought they would be back. so, i feel like there's no deal stock left in it. >> and that's why it's underperformed the two others. >> yes. >> so, if you don't get a deal, it doesn't perform. and i think they're talking about a smaller store, or, in a high traffic area. i don't really know what that means. i don't know if that's a kiosk, i don't know how small we're talking about. but you know, guy brought up shrinkage, when you look at target, now they're enforcing theft on $50 or high e-. before it was $100 or higher, where they would stop the theft. so, it's -- it's less damaging to their bottom line, or top line, however -- both lines, however you slice it. it probably gets better, because theft is theft. they're probably going to slowly

but surely stop the shrinkage on that side. tjx is working on freight costs, more efficiencies. that is probably the one to stay with out of the three. >> karen, as you think about the macro picture, as well, and we had some negative revisions on the labor data, which, of course, isback-dated, but it does kind of shed this light and reiterate that concern that the employment picture may be weakening. what do you expect to see from the retailers kind of given that backdrop in the labor market in focus? >> i think they're sort of very idiosyncratic. if you have something that the customer really likes, you're going to be fine. we've seen, you know, aber com bee, they've done great, gap stores might be set up to do well. macy's, shrinking to grow into profitability is a very, very difficult endeavor. you know, retail has just been massacred until about two weeks ago. and then i was looking at names like lulu, which i have been buying, bottomed out at $230,

down from $500. that was sort of interesting to me. we'll see it next week, how that -- but i feel like, so, lulu is a premiere name that sort of, for the first time, faced real competition. they haven't had that before, but was trading well below market multiple. that was interesting. nike, very similar story. facing competition they haven't seep, but hoka and on are really real threats. so, that maybe has bottomed, i hope, i'm long it. i'm long lulu. i'm long tjx, which is the most expensive of the bunch, probably deserves to be. they really did a great job. same-store sales were very strong. that was a surprise. i mean, they continue to do a great job. inventory was low. setting up really nicely. it's not cheap. doesn't deserve to be. macy's is very cheap. >> for a reason. >> for a reason, yes. >> it's the opposite of what you find in those individual stores. >> exactly. >> we have a news alert on charles schwab. kate rogers has details. >> take a look at shares of

charles schwab. they're down just under 5%. this is on an announcement from td that it is seeking to sell up to $2.4 billion of schwab shares, reducing its ownership from just over 12% to just over 10%. it also has agreed to not sell any additional shares for 45 days. a reason for the sale has not been given, but as you can see, schwab stock down by just under 5% on that news, leslie. >> interesting. thank you, kate. dan, what's your take? >> they had that merger, it closed a year, year and a half ago. obviously consolidated two of the largest players in direct to consumer or online retail space. becoming the largest shareholder, you know, it probably makes sense. i think td is obviously now headquartered in toronto. that's kind of in the name there, and they're probably going to be looking to compete with schwab in some way, shape, or form, as they kind of get out of whatever period it is they probably had a noncompete or so. so, the idea of kind of pairing down that stake makes some sense. we're going to talk about that later, big article in "the

journal" today talking about how the schwab bank is going to be transforming. maybe there's operational or execution risk that they probably don't want, they want to focus on their own business. >> yeah, a sign of the times. meanwhile, a bearish sign today for the job market. the labor defendant revising u.s. payrolls down by 818,000. rick santelli has more on that. rick? >> yes, leslie. you know, it wasn't a shock and it was within the range of what we expected. 350,000 up to a million. and as you look at the charts, i put a two-year, going all the way back to may of '23, because we were toying with potentially closing under 3.88 briefly, but we didn't do it. we avoided the worst case. same could be said for tens. which closed almost vir ctually unchanged. so, we didn't comp it back to july of last year, but we're very close. the dollar index stuck, that weakness stuck. we closed at the lowest levels of the year. 818,000, what concerns me most,

how little attention was paid to it with respect to the experts. they said it really doesn't mean anything, it's all, you know, it's from april of '23 to march of '24. a few bricks of that fed foundation with regard to what their policy is built on was predicated on a strong labor market, and now we find it's not nearly as strong as we thought it was. >> rick, you know, when you trade, as you know, you trade off the data that you have, not the ones that you think are fact or not. you trade off of whatever is there. how does this affect the soft landing, hard landing, no landing, aspect in your mind? >> well, you know, in my opinion, it makes everything a lock with regard to an interest rate cut cycle, and i do think that that's not going to necessarily cure the problem. i still see lingering issues with inflation and energy areas, and i still see a good chunk of the economy participants in the economy that aren't going to necessarily benefit from a

cumulative 1% drop in rates from here, it won't hurt, but it won't know if it fixes what ills us. but what i do think is, i would ignore the experts here. i've had it up to here with the experts, you know, if you look at what happened with regard to the inflation reduction act, that spending caused inflation. there's just a big paper out, i want everybody to read it from m.i.t. sloan, he wrote that the determinants of inflation, a good chunk of that was the spending we did with the inflation reduction act. if you look at biden at the time, he had 17 nobel-winning economists sign a letter, it wouldn't cause inflation, you know, real big names. our treasury secretary's husband, robert schiller, or, you can go back further, 51 -- 51 experts saying the laptop wasn't real. and you had, what, 16 nobel economists recently say trump's policies will fuel inflation. i've had it with the experts. they never seem to be right.

let me tell you something. when you overspend, when you're in debt, what we've done is, we still have all the debt, we don't have the good jobs that we thought we had, unless they're kind of under the table jobs, because many of these immigrants might have taken those jobs, but it's hard to get the numbers right, so, it really starts to get a bit dicey, but believe me, it makes a difference on how the fed's models work. garbage in, garbage out. >> rick, you sound exorcised, so, i'm going to do my best not to heighten that. why do you think -- and you've been doing this a long time. why doesn't the market react to any of this? the s&p is within a couple handles of being an all-time high. >> you know, i think it's really fascinating, because in my opinion, what's going on with the equity market really flies in the face of those that think, of course, that the economy warrants major cuts. because i think that the part of the population that is having a hard time isn't going to

necessarily benefit, as i pointed out. but i do think that interest rates can come down a bit. but i think there are certain aspects of the economy that are doing very well. i think it's the government policies that make things a little dicey, and when you have countries with the geopolitical issues, the issues with china and russia, i still say, at the end of the day, even to countries that don't like it and the big participants within those countries, they still invest in america. so, i still think american markets are good. >> hey, rick. it's dan. let me ask you this, and i heard what you just said about the i.r.a. when i think about it, that was signed in august of 2022, and when you think about cpi that topped out right around there at 9%, it's been coming down fairly aggressively, so, when you talk about, you know, spending, i get it, fiscal, that sort of thing, maybe they didn't need to do that at the time, there's a lot of other things tied into that, but what about the idea of big tax cuts, when you think about it, like, if president trump -- or former president trump is re-elected, they're talking

about extending those tax cuts. and you just talked about debt, you throw a trillion and a half dollars onto the deficit, isn't that a problem, also? >> well, you know what, i think it is a problem. and i think both candidates, it could be a problem. but here's the way i look at it. the policies of harris -- i'm not sure exactly what they are, but everything i hear her say, everything that she publishes, is about the government orchestrating. where are they going to get all the money? $25,000 for a downpayment on a house, which means the houses are going to go up 25,000. to answer your question, i think taxes for corporations need to remain where they are, and if the deficit gets a little bigger, i understand, i hate deficit, but to me, it's the alternatives of raising it that will slow the economy more and make the deficits rise even faster. >> all right. rick santelli, thank you, as always. so, we're seeing evidence -- new evidence that the job market is cooling, consumers are moderating and even crude prices have gone negative for the year.

does this make the fed's job easier as the jackson hole symposium gets set to start tomorrow? we're joined now by jackson square capital founder andrew graham. he says there are three critical economic reports out between now and their september meeting that will greatly influence what the central bank does. andrew, welcome. given what we know at this point in time, 25 basis point cut that's your base case at this point? >> yeah, i think they move incr incrementally. i don't think they're going to change their personality overnight. you would need to see a pretty bad august payroll number on september 6th in order to generate something larger than that. they don't want to cut 50% for a lot of reasons, but one of which, of course, just signaling that things are weaker than they appear to be. >> what's your expectation for jackson hole this week, do you think there will be any market-moving news? >> no, it's -- it's largely an academic conference, or, at least, it's billed as such.

you are probably not going to get a lot of specifics. you're going to get a hint that we're probably ready to cut rates, but that was in the fed minutes that we saw today. you saw several members say that there's enough evidence to potentially cut rates in july. everybody voted in lock step, which is fine. i think it's a very tough call. they have a very hard job. rick is right, by the way, the fiscal spending has made their job a lot harder, that's why we have a 5.3 funds rate and we've got a neutral rate, according to the new york fed, that's somewhere closer to 2.5%. so, there's tons of room to cut. if they do it incrementally, it runs the risk of a policy mistake, of falling behind the curve. if they do too much, and 50 basis points is going to send a signal that things are weak and the market may react that way. so, you're in a good, but still not easy spot in here to engineer a soft wlanding or engineer something better. >> andrew, it's karen. so, say they do 25 and he gives

a fairly dovish conference after that. do you think that's exactly what the market is expecting, or would it -- is that what we're pricing that in exactly right now and if they move off of that, what happened? >> well, i think that's fine. i think that's what the market is looking for. and i think they're looking for 25 basis points at every meeting thereafter. something that suggests that they're not going to move in sort of a sequential manner would be a negative, and markets would probably sell off on that. a 50-basis point cut in response to a bad payroll number on september 6th, i think, would be negative. you've got a multiple here, a forward multiple on the s and p of 21 times, roughly, and markets with high multiples don't respond well to rising unemployment rates. we saw that last month, and you saw a good deal, a spike in the vix, and markets don't respond well, either, to higher levels of volatility. now, volatility levels have

compressed in the short-term, i think we've got a near-term pain trade that's to the upside for the next few weeks, as volumes are low, attendance is light, and liquidity is relatively thin. you have a wide open buy-back window, and you've got those vol targeting strategies becoming buyer again. so, you have a little period in here where you get this kind of a drift upwards. and then some -- yeah, then the to sensual for somepotential fo seasonal weakness. >> andrew, that's exactly where i was going to go with this, the seasonal weakness is september, infamous for being the worth month for the market. and it's the worst month for the market with the semiconductor index, as well. how do you invest around that or do you sort of steer through it? >> we always steer through it. the problem that you're going to

have with some of the semiconductors, you're lugging big unrealized gains for people with taxable accounts, you're talking about individuals. and there's ways around that, of course, with options strategies and so on, and clipping off maybe some low basis pieces that you may have put in there. but -- high basis, i should say, positions that you put on. but yeah, it is a challenge, any time you're dealing with something that's had this big run. i would say that fundamentally, the semiconductor business is as strong as it's ever been and i think it's going to continue to be strong for a long time to come. and you've got to make a decision whether or not you're going to maneuver around that, whether it's based on seasonality or it's based on, maybe, a bunch of fed rate cuts and the fact that other equity, you know, segments of the market are going to be relatively more attractive. when the fed starts cutting interest rates, cyclical stocks become more attractive. small cap stocks become more

attractive. and those are the stakes here. we're talking about a russell 2,000 that vastly underperformed the s&p 500 over the last two years. there's at least 40 percentage points of potential outperformance that could come from a cyclical recovery, so, that's the goldilocks scenario. you have a fed easing cycle and you have higher russell 2,000 and cross markets like copper prices are also going up. that's something to follow. >> yeah. certainly seems like an inflection point for everybody, not the time to stop doing your homework. appreciate your perspective, andrew, thank you. >> my pleasure. coming up, pausing the charge. ford delaying a new ev plant as it downshifts its electric ambitions houchlt they're shifting their strategy, next. and toll brothers still climbing on their back of earnings. the impact it's having on the rest of the home builders. t awhe.er "fast money" is back in two.

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three-row suv as soon as next year. the company will incur a $4 million special noncash change for the write down. steve, right move? think they've messed this up dramatically worse than the rest of the group has. toyota motor had it right when they went hybrid right out of the gate. so, people want to start adapting to evs. they don't want to dive in 100% ev. gm has done a mag knifnif gm has done a mag knificent job. look at year to date, up 30%. ford down 11%. it's actually underperformed tesla, tesla is your, you know, this is ev, i'm diving in, i don't want to worry about anything bet. rivian can't get out of its own way because they're losing money so, tesla is the single play with evs, gm is the other play. >> yeah, i guess the market, you know, is questioning, you know, the strategy of full-on ev, right? and elon musk has made it very

clear they are not going to go the hybrid route. he said that on their last call. and it's interesting, because almost every other major automaker to steve's point is going in that direction. i'll tell you the other headwinds, it was a 90% tariff coming out of europe on teslas that are coming in from china, and most of the model threes, the low end, are coming from the shanghai giga factory. and then, on the flip side, it seems like former president trump keeps talking about if he is re-elected, how he's going to get rid of those tax credits here in the u.s. so, those seem like two big headwinds at a time when tesla can't get out of their own way. so, it really seems like, you know, hybrid ev is going to be the way to go for awhile. >> yeah. the demand picture is what was misestimated, it seems like, here. coming up, we're watching two names on the move in the afterhours. snowflake and zoom both reporting results. the details from those quarters next. and more on activist investment firm elliott management's latest stakes.

the changes they are looking to see at starbucks and southwest airlines. you're watching "fast money" live from the nasdaq market site in tesque.im sar we're back right after this. tamra, izzy and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan. work with principal so we can help you with a plan that's right for your team. let our expertise round out yours.

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a pair of tech earnings movers after the bell. snowflake and zoom both beating on the top and bottom line, but heading in very different directions afterhours. kate rogers has the action. hey, kate. >> hey, leslie. we'll start with snowflake. the company beating on the top and bottom line. the company's ceo looking ahead to future a.i. product usage, saying in a statement, quote, the quarter was hallmarked by innovation and product delivery and great traction in the early stages of our new a.i. product with the combination of our platform. the network effect of collaboration and our a.i. innovations. we have a huge opportunity ahead to deliver even greater value to our customers, but unfortunately, that outlook not helping shares, down over 7% a you can see, afterhours. and turning to zoom. that company beating on the top and bottom lines for the quarter and raised forecast to $4.63 billion for fiscal year 2025. that compares with the $4.61 billion and $4.62 billion forecast earlier. and has some upcoming c-suite

changes. the cfo will be resigning on october 31st, the company said in a filing. that move important here. not as a result of any disagreement with the company, and a search is currently under way for her replacement. the stock, though, as you can see, up over 2.5% afterhours. >> kate, thank you. dan, what's your take? >> yeah, and snowflake in particular, i mean, we've highlighted this and probably more enterprise software companies over the course of this year. they've just been left out of this a.i. rally, and i heard k-ro say a.i., like, seven times in that report. and they just don't seem to be getting, you know, any of the benefit of that. and you look at this stock, you think about the valuation, it' trading at 13 times sales this year, and you have a decel in one of their key metrics in revenue, and investors are just going to shoot first, ask questions later. they've had a lot of management changes, they lost their ceo, i think earlier this year, late last year, so, this one, i just don't get it. and i think they do something important in this realm, but

it's just not being appreciated by investors. >> justifies valuation in terms of -- they have to go $4.5 billion, closer to 9, and then you get smo soto something that little more reasonable. i think this peaked at a $160 bil billion-ish market cap. and at this level, to dan's point, it doesn't mat sense, either. if you put up a stock chart, it's been sideways with bounces. the quarter isn't a disaster, just the valuation that's a problem. >> it is profitability and valuation, they go hand in hand. to dan's point, they have some pretty good partners in a.i., microsoft, nvidia, amazon, you would think, at a certain point, the stock winds up bouncy on this. it just hasn't seen that just yet because they're not getting the play or the a.i. nod just yet. >> got fundamentals, valuation, and they have missing out on that a.i. story stock that a lot

of others in the tech space have benefited. coming up, a deep dive into one activist investor with a very busy year so far. how elliott management is looking to shake up the likes of starbucks, southwest, and more. plus, going long on longevity. inside the vc fund investing in the longest of timelines. the cofounders behind that one join us next. "fast money" is back in two. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes

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for exactly the amount she wants... no fees or commissions... what will gina do next? gina has roller derby at 6:00 pm. i'm there. get started investing for as little as $1. talk about easier investing. welcome back to "fast money." stocks closing higher after the fed minutes renewed investor optimism for a september rate . toll brothers bringing the rest of the home builders along with it. dr horton hitting an all-time high. a handful of staples names trading at new highs. coca-cola and proctor & gamble at records. altria at its best level since 2022. and tapestry filing a defense to the ftc over its lawsuit to block the planned deal with capri holdings. tapestry saying, quote, over the

last three months, defendants obtained documents and data from 120 third parties and took 15 third party depositions, and not a single third party expressed concern that the transaction will harm consumers. not a single consumer. not a single wholesaler. not even a single handbag competitor. the only people who have expressed a view that this transaction is problematic are mraf and its expert. karen, this seems like a very unique -- >> that was a juicy little -- response. i think, you know, that will play well. it does really seem an absurd case. handbag, aspirational handbag. it's always been a misguided suit that the government brought. the stock is trading like a one-third chance that tapestry wins. i think it's more likely a two-third chance they win.

it's $57 if they win. that's the deal. and i don't know where it will trade, 25, 24? so, two-thirds chance, i think two-thirds chance they win. the stock is saying only one-third chance. i'm long. i think it's an interesting risk/reward. >> maybe just some merger ashtray tomorrows who have been burned in the past, being extra cautious with this situation. >> exactly. speaking of the hedge fund world, now to the activist investor space. elliott is standing in a league of its own. firm has launched 12 major campaigns this year, a rate of one every three weeks, and more than double the number from the next most active firm. at texas instruments, that was up nearly 3% today. elliott applauded the company's capital allocation update, which was in line with the hedge fund's prior push. and southwest, elliott is planning to mount a proxy fight with a slate of ten candidates. it could be the firm's first such fight in seven years.

and last week, starbucks announced a ceo change. elliott's 13th ceo shift in two years at companies it has been involved with. guy? >> i think getting rid of the prior ceo was critical. i think that interview he did with jim cramer was a disaster. that sort of sealed his fate. so, that was good. and then brian niccol, obviously, was equally good, so, that's why you get a 25% bounce. but this is -- starbucks is not chipotle. it's a much more mature company with basically deep-rooted problems. it's going to take a lot of time to fix. i get why the stock bounced the way it did, but this is not a one-quarter fix by any stretch. and i think the problems they have still exist, regardless of what brian niccol can do. so, i'm inclined to say at 92 bucks, you sell the stock, you'll get a better entry point. >> working remotely, maybe boom to zoom, as well, we'll see. coming up, a crediten crun. american express downgraded at b

of a. but first, redefining aging. the cofounder of a prime time partners joins us with their read in the biggest areas of opportunity now. we'll be right back.customer employees get the information they need instantly. this is how business goes further with t-mobile for business. your record label is taking off. but so is your sound engineer.

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welcome back to "fast money." with the global population aging, prime time partner is focused on this growing problem, and says there's an $8.3 trillion market opportunity. the firm's investments are tackling everything from menopause symptom relief to end of life caregiver support. joining us now, allen, let's start with you. at what age do you think people are starting to think about longevity, at what age do you kind of define in your investment thesis types of things that will help this idea and become something that you can capitalize on later? >> well, i think people probably in the stone age wanted to live a couple years longer. i laugh, because why shouldn't

always people have been thinking about longevity? but it seems since we started prime time, it wasn't really top of mind, it wasn't discussed. today, it is really one of the two or three major subjects. climate, energy, and living longer. well wellness, living longer on a healthy basis, no matter who you're talking to. you asked about an age, i think people are starting to think about it in their 40s, even, because they're doing devices, the oura ring, wearing patches, which are trying to tell them, perhaps, indicators of how prone they are to diabetes or to heart disease. i don't think you can predict alzheimer's yet, but i think that everyone has become very much aware of, what can i do to live longer? >> because it's not just about living longer, it's about living longer better. you want to have a good quality

of life as you live longer. so, with that in mind, where do you see the biggest market opportunity right now? what is the glp-1 drug or a.i. equivalent in the longevity space? >> so, it's about health span versus life span. and in the u.s., we have really doubled life span in the past 100 years, but health span hasn't grown at the same rate. so, when we think about the opportunity, we invest in early stage startups, but the biggest opportunity isn't very sexy, it's actually around controlling the cost of care. because medicare is close to a trillion dollar spend, growing at 7.4% a year. and that create as tremendous opportunity for entrepreneurs to help our government and the payers in the u.s. and it's also a global issue, the same issues happening across the globe, to manage care. so, that is -- how do we manage the cost of care? it is things like work flow automation and using a.i., it is preventative care, it is data and diagnostics to gauge disease

earlier. so, all of those are opportunities, while we don't always talk about it, but those are really important opportunities for entrepreneurs. >> alan, you're an investing legend, but you take care of yourself. so, people watching this are saying, what are the simple things you can do? get up and move, stay engaged? what is your typical day? >> you really want me to give you secrets? >> absolutely. >> you know i'm going to live until 114. >> no doubt. >> that's written in stone. you know, i walk a lot. i married someone five months ago who likes to walk also, so, we walk four, five miles every morning, weekends, eight to ten miles, which is really, i'd say, number one. i have a trainer two or three times a week. i eat very carefully. and i honestly, most important, i think, is i have this positive point of view. i don't know the word no. and i'm willing to try almost anything. i went to a conference yesterday in newport, and the people that

invited me sent a plane, but it was a single engine prop plane. when i got on, i find out that as a safety, they have a parachute, from the top of the plane. that plane is -- who else would do something like that? i made it back, obviously, because i'm here, but i like -- i've just always been something that tried something different. that's why i've been in art, i've been in theater, i've been in music, not much i haven't been in. >> and you keep working. and there's plenty of data to show how combatting social isolation and mental activation is so important as we age, and, you know, it's a shame, honestly, that people are retiring too early, and, you know, it's an opportunity, as we, you know, we started this fund when i was 45 and alan was 85, and, you know, we're just getting going, we're four years old. so, even just thinking about second careers, third careers, it's pretty important not just for enjoyment of life and financial long geoffty, but nor

your health. >> and it sounds like the companies you're investing in in the fund, are smaller cap, you talked about early stage. it almost seems they are buyout targets, or venneventually buyo targets. i noticed that was the common theme, they were lower market cap names. is that just because a lot of the bigger names, it's not a direct play in longevity? >> there are some direct plays. l because you're betting on the need for future cacaregiving needs. the pharma companies, the pace of life sciences and biotech, that's only increasing the number of opportunities for longevity. but we're venture capitalists, and so, we are making bets on an emerging category. to alan's point, the longevity or age tech, as it's sometimes called, is absolutely a new market. and so, we don't believe -- there aren't yet pure play unicorns in this space. we're investing in them and plan

to build them over the next decade. >> alan, you've been investing for decades here. when you think about megatrends within the health care space, we talk a lot about glp-1s, and you started, you know, your firm four years ago, four years ago, people weren't really talking about this. how many times have you seen this sort of shift, focus within the health care space, and how is it affecting your thesis as you guys are investing and have this strong thesis about longevity? >> we don't invest in biotech or pharma or anything that requires specific fda approval. we are developing the products that are going to help all of you around the table and all your listeners, to live healthy and longer, and that's products, technologies, and services. and you're correct. i think a lot of our companies are going to be the -- are the seed corn for acquisitions, more so than being ipos, and we've got a lot of companies in our portfolio that i think are logical acquiring conditioning

the next years going forward. we're developing product. i used to say, early stage of biotech, all of companies were bought up by big pharma. and all we were was a tryout for the pharma. they shifted the early stage course. so, we're absorbing those, we're doing a lot of startups, and they'll pick from there which ones they want to acquire. so, i'm very optimistic that we've got a lot of products, a lot of people that are going to be swarming around this and get bigger. >> i mentioned in the intro, menopause is something you are looking into. how does it fit into your longevity thesis, and what do you see is kind of the total addressable market for products that -- because it's something that a lot of women still to this day still just don't talk about, they suffer in silence, and it seems like there would be a sizable market for this.

>> well, there's such an important link between menopause and alzheimer's, frankly, that for women who use hormone replacement therapy, which was once controversial and now generally accepted as a treatment for women in menopause, that those that use hormone replacement therapy are far less likely to develop dementia than those that don't. there's the linkage between menopause not just finding relief, but actually in terms of reducing the likelihood or chronic care needs down the road. that being said, we are still very early days. it is a hot topic, which people love to use that pun, but it is also a genuine health care need. women in their 40s to 60s are the least penetrated market for health care needs. they don't go to the doctor. and so, it's interesting to see how a lot of the businesses that are being developed in this space are the first time that a woman has gone to the doctor since she had her baby. >> wow. >> and so, it's an opportunity to engage in a health care

conversation. we have an vestman investment ts more on the wellness and beauty side of it, but it's a way in, to have a conservation. >> i learned so much from this conversation. really appreciate you being here, sharing your words of wisdom, on longevity or some of the things you're looking at these days. >> thanks for having us. some payment pain in shares of amex. why analysts are turning negative on the name and where that stock could be heading, when "fast money" returns.

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to buy that stock... for exactly the amount she wants... no fees or commissions... what will gina do next? gina has roller derby at 6:00 pm. i'm there. get started investing for as little as $1. talk about easier investing. welcome back to "fast money." we're getting news from wolfsheed's earnings call. that stock soaring after hours. kate rogers has the latest. >> hey, again, leslie. wolfspeed stock, as you can see, higher as executives discuss the business on its earnings call. the ceo saying, quote, we are acting on an aggressive plan to optimize our capital structure for the near and long-term. we've already begun to align capex to our current balance sheet and identify areas to improve to fitability across all aspects of the business. adding we've already targeted

$200 million of capex reductions in fiscal 2025. re reminder, the company had wider than expected loss. revenues in line. you can see the stock higher by 10% on those headlines, less bee. >> thank you, kate. meantime, american express falling over 2.5%. analysts moving the stock to neutral, citing commentary from retailers and travel companies that suggest a, quote, challenging spending backdrop for even the high end consumer. guy, this was on your radar on our call this afternoon. >> i think it should be on everybody's radar. they don't report until, i want to say, middle of october-ish, okay? so, this seemingly came out of nowhere. however, i think it came out of all the earnings calls that we've been talking about. i think they're starting to connect the dots. price target from the b of a analyst is still higher than the price now. with that said, people are concerned about american express, with some of the credit potential risk out there, some of thehearing from the consumers and these

retailers. this is one that we'll come back, remember that day in august, there was a downgrade of american express, didn't make sense of the time, but makes a lot more sense now. >> karen, this is also really expensive stock. 17 times '23 estimates for eps. >> it is expensive, although, you could have said that at so many points along the way that it was expensive. same for visa and mastercard. i don't know. i still believe in the american consumer and spending, and so, i don't know, a name like this, you've got -- kneutral -- if yo had this for a long time, neutral is not a reason to sell it. like, if something's really different, then i would consider selling it, but i don't actually think things are very -- it's a little expensive. to me, that's no reason to sell it. >> and it's much cheaper than mastercard, right? it's much cheaper. i guess it depends on what metrics you use for it. much cheaper than mastercard. visa in the middle of the two it will be the last one to fade because the most affluent of users is using american express. >> 60% premium to card issuing,

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we have a news alert on paramount. a group of investors led by edgar bronson have raised their offer for shari redstone's stake in national amusements and paramount to $6 billion. paramount shares up in aft afterhours trading. it's time for final trades. let's go around the horn. steve? >> nike. i was lucky enough to buy it on a dip. i'm thinking about exiting. >> karen? >> yes, zoom. look at that company again today. incredibly cheap. lots of cash, too, and it's the z in dan's zebra trade. how about that?

>> dan. >> yes, crude's acted very poorly. i think you can press the xle. 40% of that is chevron and exxon. >> guy? >> so great having you, leslie picker. >> thank you. >> i know the audience feels the same way. look at ford. can't get much worse at these levels. >> fun times with your best friends here onat these levels looking forward. >> fun times with your best friends here on fast money. thank you for watching mad money. my mission is simple, to make you money. i'm here to level the playing he field for all investors. i promise to help you find it. mad money starts now. >> hey, i'm cramer. welcome to cramerica. i'm just trying to make a little money. job is not just entertainment but to teach you. maybe we are look