tune in tomorrow at 8:15 eastern for the duo salvo of numbers. is it close to 300,000? it's all about employment. seems to be trending lower in terms of the amount of unemployed. tune in 8:15 eastern. i'm matt nesto. we'll be watching for the final print r print of second quarter gdp 8:30 a.m. washington time. economists looking for a slight revision downward at minus 1.2%. and with the market down about 47 points on the dow tonight, have a wonderful evening. see you tomorrow. "fast money" is up next.

have a good night. toyota recalled 3.8 million vehicles because removable floor mats could affect accelerators. >> nike shares profit beat expectations. the ceo of adobe has been named at dell's board. that's cnbc.com. i'm scott cohen. "fast money" with melissa lee starts right about now. live from the nasdaq market site this is "fast money." i'm melissa lee. stocks on pace for the best quarter since 1998. these traders have your exclusive "fast money" outlook for the final quarter this year. moving right now we are watching shares of nike jumping by just about 4% profit. blowing away street estimates. karen notes there's been some improvement in the gross margin. >> looks like it's coming from a

good job on their expenses. that's a good thing. we'll have to see what they say on the call. that will give some indication for names like foot locker and retail more broadly. >> derivative plays out there. steve, you called bullish activity in nike. >> people expecting some type of a move. yesterday the direction wasn't quite as clear. today more clear. got to admit i completely missed it. volatility did not spike despite the fact over 20,000 of the october 60 calls were purchased throughout the day. a lot of call-buying there. didn't trigger. not sure why. i didn't figure this one out. they are paying about $2 at the end of the day, now they are getting rewarded because earnings were nice. >> on that conference call you want to know what the u.s. sales were. that's where we are looking for the improvement. nike just does not miss in the last five years. they have missed maybe two, three, four times at most. this is a good story going forward for the market. >> although the stock was 55 bucks a week and a half ago and

ran up to 60. was this going to be a case of running into the earnings? >> plus you had finish line announce yesterday july and august went well. how much of a look through for nike was that? >> or vice versa? was the derivative play the way to go? >> that's the way most of my clients saw it. you do it the reverse. you buy nike. it's so damn big. can i say damn? >> you just did, twice. it's too late. >> i would say buy nike. >> the trade-off, this 60 had been arisians in this stock, it now becomes support. 60 bucks is now support. >> you can use darn next time. >> got it. >> let's take a check on some other after-hours action. saks announcing a $100 million secondary office to raise funds. they join the floods of companies trying to take advantage of a very good stock market.

that stock is lower in the after-hours session. any buys of saks? when i go into the flagship stores, which i am know to do occasionally, everything is on sale. >> is that the tale of the weak earnings? they do have a lot of debt. any opportunity they can to repay debt, this equity offering will help. >> about a week ago saks started buying the october 7 call. this gives you another reason why this is still a traders' market. those options gave you an opportunity to take some off, take off some of that risk into this number. it pushed above 7, got to take profits when they are there. when they are moving the way they are right now, this is why you have to use this as a traders' market. i'm not sure folks that treated this as an investment are probably not too happy despite the fact this is good for bottom line of saks. >> are people buying what's on sale? you look at the consumer confidence numbers today. they were surprisingly

disappointing. would you think with rising equity evaluations. people are still worried about jobs. you are going to get a glimpse into that on friday. it goes back into the question, yes, everything is on sale, but people are not buying. >> the whole stock market ran those. 3/4 of all stocks run with the overall market. it's seen as a weakness when you still have to raise money after the run-up we've seen. >> you are talking about saks? >> saks, the least, anybody that comes up with secondaries now. your balance sheet is not fundamentally sound. >> i want to talk about consumer confidence, the number more broadly, which to me is of all the economic data we see is the least interesting. it doesn't tell you anything about purchases. it doesn't tell you about orders, inventories, anything like that. those kind of numbers can move very quickly. of all the data, when the market sells off on consumer confidence

or rises on consumer confidence, i don't make that much out of it. to me some of the other data like housing is much more important. >> the shiller index. only two of the 20 major metropolitan areas showed decline month on month. how was that received on the floor? >> nobody on the floor thinks housing reached a bottom. i don't care what stat comes out. we already had that first-time home buyer tax credit. gone. the window is outside of november. i think there is a lot more selling pressure going to be placed on it. i don't see my customers jumping into the housing market. >> how about the window dressing effect, have we seen that yet? >> with the housing sector, clearly you can make the case that the precip yus decline, you are seeing recovery, but i don't know. i don't know when you look at the home builders if it's a sector you want to reach for the

valuations. i think right now when you look at the overall marketplace right now, you know how everyone is positioned short term. they told you last week. they talked about the intraday reversal. all risky assets. equities, commodities. everyone right now is playing it from the short side. how does that line up heading into the end of the month? i think it lines up bullishly. i think everyone is telling you which way they are slanting. then you are looking forward. institutional money managers as october approaches, they are going to have to put money to work if the s&ps stay right near more of 1050. >> if you are talking about the tax credit, why wouldn't you continue to extend it? i never understood why -- >> they are, aren't they? >> why wouldn't you want the 8,000? extend it to the folks -- why isn't is it just to the new home buyers? you talk about the homes. everybody doesn't think we bottomed. that wouldn't stop a fall, but gives thinks more greasing to

the wheels to start moving again. some incentive to get folks out there to buy houses. forget the first-time buyers. a lot of people are suffering right now that would like to trade down, move around. that would help the housing market. >> we talked about it. sooner or later, you've got to take the training wheels off. you talk about putting the training wheels back on again. we have to let the economy begin to grow, begin to recover whether it be housing -- >> they extended cash for clunkers. >> we did that, but that program has ended, as well. there comes a certain point -- >> just in time, cash for clunkers. >> when we skin our knee because they decided to remove those things, we'll want the training wheels back on because we are not out of this thing yet for the point you just made. we are not out of the woods yet. people are expecting this to continue to fall. we know foreclosures are going to get ugly. when you start to break it down right now, things are not exactly right. they are not even at the growth

stage. >> the debbie downer in me will look at the shiller and say all metropolitan regions so year on year decline in prices the 16th straight month. >> i think -- harry reid, did he not prop oes the extension of the credit? >> it's out there. >> it is past it -- >> i don't think it is, but i think it's popular. i don't know for sure. i think the more important thing is rates. where are rates? rates going up that, would have been a really big problem for the housing market, but rates, in fact, i've not bet this way, rates have gone down. look at long end of the curve, down. that is a good thing. talk about training wheels, that's like knee pads, training wheels. >> and there are those jumbo loans. still no help. i hate to plead the case for a jumbo loan, but there is no help for the higher end of the curve where people are really buying these bigger homes. >> the effect of all this we are talking about is plain and simple, if you stay too long and

leaving the training wheels on too long? that leads to the trade where you've got to be long things that are betting on lower dollar. why? you stay too long, you worry about inflation. if you then have the other side of that where you pull out too quickly, you take the training wheels off, you are looking at double-dip recession. this right now is a precarious position that we are in. we created ourselves, it is problematic. how we get out of it, that's the answer to where the market goes going forward. >> given that scenario, forget the double dip. i would rather leave those training wheels on. >> i'm with you on that one. that's why the dollar continues to decline. let's look at oil, joe. oil, interesting dichotomy in terms of performance when you compare it to stocks. welcome to "the chart of the day." coming into the july cold war, oil was training a little south of 70 bucks. you look now it's $2.50 lower. unless we get a dramatic rally tomorrow on the last day of the quarter, the oils future price

will be lower than a quarter than all the other risky assets. it calls into question oil futures themselves. you look at a lot of these energy equity names. look at oih, oxy. is it oil that's broken or is it the way people get the exposure? is it the regulation we talked about this quarter? people don't want the exposure to the actual underlying asset. they want to figure out another way to get that exposure. >> institutional traders -- joe points out a big argument here. institutional traders think oil is the key. now that oil failed, they think the s&p is coming in. >> we had an energy analyst from summit energy say $58 is where oil was headed. >> i will take the other side of that. >> let's say for a moment in time that brad samples is right. does that mean the s&p 500 follows lower? >> yes. >> take the other side joe. >> i will tell you when we

approach the month of october, you will see a lot of good index buying. october historically is a good index buying month. oil will be a beneficiary of it. i think goldman sachs talking about $85 oil, they may not get $85, but i believe by the end of the year it with it will come close. >> it probably is a reasonable level. i think there is always a premium built in. when you are looking at some of these names, conocophillips would be one of the names. big nat gas exposure there. the refinery business is coming back a little bit for them. that big acquisition they have been choking on. i don't own it right now, but i'm looking at that name and i go back to bp. >> don't forget the refineries are hot, a great place to be in. >> karen, does it matter whether oil goes to $8 or hi58 or highe?

>> to me the fear is a drop or dramatic as opposed to a slow-moving one. when we look at oil field services one like today transocean, new deal beginning in 2010, day rate for ultimater deep water is higher than where the old rates coming off. when they sign the older one up, oil was probably higher than now. just as long as there isn't a big shock, i think it's okay. >> i think oil is going higher and s&p are going higher. if oil goes to $58, the s&p does go down though. >> this goes back to the grinding of oil near $70. we are not that far from $70. you are looking at the s&p not too far off the highs either. when you are looking at this whole picture, oil pulling back a little bit. a little pressure on the s&p, really falls. >> i think everyone takes a pass. they move to the sidelines. november they come back. >> before we close on the oil story, everybody understands tomorrow we are expecting a bearish inventory report.

keep that in mind. if you don't get a significantly bearish inventory report, you may be scratching your head saying why did oil rally today? >> let's talk about financials. this was a sector divided today. split personality. we had capital one financial move lower. there are threats of new regulations, federal reserve proposing new rules. putting them out there, floating them saying perhaps credit card issuers should not be allowed to issue credit cards to those under 21 unless they can make minimum payments or have a parent cosign. on the flip side, we've got boutique investment names like green hill and jeffreys hitting 52-week highs. yesterday we had a lot of m&a activity. there is a case made here on the desk almost daily that these guys will, in fact, benefit. let's take the capital one financial, pete. i know this irks you. >> it frustrates you because of the fact you can send somebody off to war, yet you are 18, 19, you can't get a credit card or

you've got to get your parents' approval? makes no sense. we talked about this on "the halftime report" today. somebody pointed on the the debt card. that's where the growth is. i'm talking about the transaction guys. that won't hurt them nearly as much. clearly, it will affect american express, capital one, all the rest. >> how many of the nonperforming loans are a parent? you've got to think a lot. i don't know why being a parent makes one better? i'll bet the number is very large. >> their children, probably 100%. >> and if 21 is the snumber, seymour can't get a card. >> he's not even on the desk and you take him down.

he's in russia. we address the outrageous credit card proposals out there. time to put fresh capital to work even with those names hitting 52-week highs. i think that is a no? >> i don't know. >> big sigh. >> just a huge unknown. i think we have to, i don't know, maybe see where the bodies lie for a little bit. >> i think one thing is they are hiring. they believe in their business right now. they continue to see the secondaries. the ipo market, m&a market. the name that looks the most interesting is lazard based on a p.e. level around 20. the rest are more inflated. >> and stuart frankle. >> are you hiring? >> capital markets etf gets all the names. >> jeffries is there, greenhill. great way to play it. >> death and taxes certainty in life.

many investors look to avoid the latter by selling their mutual investments. many fund managers look to dump their losers for the year. could their trash be your treasure? breaking is down for us is gary peninski. nice to have you here. >> i'm still thinking about having a 17-year-old just starting to drive. >> which is scarier? >> the credit card. >> no credit card for you? but here are the keys to my honda. gary, walk us through. what typically happens in october? >> when i was here last, joe and i had spoken on the show about the fact many money managers who market themselves as active managers and closet index, it's important for viewers of this show to take advantage of knowing that in terms of their own strategy. the fear to not own stocks really became the major factor in late august. that's what drove the markets

through september, the fact that many managers holding cash, the fear of owning cash was worse than actually the fear of owning stocks in march. when you get to this time of year, what we typically did when i was managing money, what we would do october 1, we look what's been the worst performing names in the s&p 500? it's a great place to start. if you look at the list today as we enter the fourth quarter, what you'll see is a couple of themes. half the names within the s&p 500, the worst 20 pefrmg names are regional banks. not that money center banks, but banks hit by the local commercial real estate problems. when you look at the other ten names, you see a bunch of different names that have different reasons why they are on that list. what you try to do is recognize that most investors, instead of averaging up, what they do this time of year is average down. you buy two stocks at $10 in january. one goes to $17, the other to $7. human nature, the wrong decision.

you'll take profits in the stock trading at $17 and average down on the stock trading at $7. you see this time and time again. the movie's been played, you know how it will end. you want to take advantage and find names that will benefit as investor whose have owned the name, don't establish a loss and want to add to the position this time of year. >> you did your screen. what are some of the ones popping up on your radar? >> when i looked at the worst 20 performing names, i saw a theme in two names. vulcan materials and suntrust bank. these have been impacted by florida. whether or not we hit a bottom or we are going to see some stability, the fact of the matter is they are quality names. vulcan had a bad acquisition, bad timing in terms of florida rock. what you try to do is watch the action during the month of october and realize these will

be relative outperformers because these closet indexes are going to continue to chase the relative gain. >> when do they have to do that? what is the window you are looking to take the other side of that trade? >> many mutual funds, they are taking tax losses now. there is nothing worse than being the owner of a mutual fund having recognized, you want to get as many recognized losses as you can before the end of the mutual fund year. what you want to do is you want to see where there's going to be retail demand to average into the names. if you look at relative performance the first couple of weeks of october, i suggest you position yourself the last couple of weeks of october. my guess is you are going to see significance outperformance in the fourth quarter of those names. >> gary, we have to leave it there. gary kaminsky wormer big wig. could this be the best

revenge fantasy? cluster stocks. a sculpture showing bernie madoff getting propelled and hit by a bull. this is in beijing in a gallery on monday. word on the street continues with options action and biotech. the trade hitting insitd a dollar chart and a lot more. stay tuned. can you tell the difference? >> i can't taste the difference. >> starbucks says you can't. will instant coffee cause starbucks stocks to move up? and the ceo at the forefront gives "fast money" an exclusive outlook. we trade it live. despite the nay-sayers, buy and hold is not dead yet.

it is amazing that was just one year ago. quite a different place from today. this quarter is on track to be the best quarter in about ten years. where are we headed next? let's bring in a technical analyst. greg, tell us where we are headed. >> the point we are at right now in the market is all systems are going. even the dip last week. we helped support the 20-day moving average line. let's look at our chart as we always do. we are looking at the march lows to the current highs. look at the moving average line, slope of the average line. it has remained positive, albeit for just nine days it was a negative slope throughout that entire period from march to now. good news is everything is in check. however, i'm actually short the market right now.

i did so based on the key reversal we had last week, the downside reversal. my risk is slight. i got short the december contract, not the cash because we trade the december. at 1059 and i have a stop at 1062. i am taking very little risk to go countertrend here. i'll take that risk any day of the week. >> are you willing to re-establish that 1121 level, tricc? the 50-level retracement where it crosses over the upward trend line? i know it tops out at 1100. all my guys have been dead-on and they are looking at 1121. >> 1121 is a 50% retracement from the absolute high in '07 to the low in march. i have no problem with the fact we may attain that. all i'm saying is based on a chart pattern from last week, you have to be cautious here. if the market starts to come off here, you want to be positioned for it.

again, i took very minimal risk here and i'm willing to do that because i can define my levels. >> jeffries hit a new 52-week intraday high today. >> interesting thing about jeffries, if you look at the lows of march where we are now, it's the same pattern in the moving average line. we only had nine days of a negative slope. point being, financials, technologies, look at the s&p, the broad market, give you a great indication where your individual equity positions may be headed. the s&p starts to tail off here, you are going to have that in the financials, as well. it's the exact same chart as the s&p. again, the key is everything is all systems go. it all looks bullish, but right now we could be at an inflection point over the next couple of weeks. heading into october, i have a bit of an issue here. i want to be cautious. go ahead. >> i'm sorry. based upon that and what you just talked about earlier with the s&p 500, you were starting

to get bearish, does that mean you are ready to take something off in jeffries or maybe even go short jeffries because of these trend lines? >> i won't go short jeffries, but look to take 30% profit here. i do that across the board in stocks like apple, goldman sachs. there is nothing wrong with taking a profit. what's tough is having to reload if the market comes back, but the risk of taking partial profits is much less than if you don't do anything here defensively. again, traders, we have some of the best option analyst on the fm desk. they always give you good advice where volatility is and how to hedge your positions if you don't want to do it straight in your stock. >> i didn't see pete hand you money. >> it was earlier. >> all under the table. >> let's move on to currencies euro. >> right. i'm going with the theme that if the equity market's going to sell off here, i'm going to see dollar strength. i took a short position. we went up to roughly around

148.50 last week. my objective was around 150. we moved from 124 around january up to 150. it's been a heck of a move. the fact we came up near 150, i'm willing to take a short position in euro. i did sell at around 146.50. i have a stop just above that. again, with that and the s&p, very tight stocks, i could be stopped out in the next couple of days. it's a risk i was willing to take. we came close enough to 150. i'm willing to bet the equity market could ease lower here and dollar would strengthen. >> greg, nice to see you, especially in person. >> thanks. >> greg troccoli. also known as glide pass here. darden restaurants is a mover down now by about 6%. it's sticking by its fiscal year forecast but revenues fell

short. we are seeing that decline in the after-hours session. source of weakness for the quarter, red lobster. when is the last time you've been to red lobster? >> not never, but not in a while and the not during the last quarter. apparently not enough people went during the last quarter. i would have thought they got positive on food costs coming down. >> lobster's cheap lately. >> it is? i had no idea. i don't eat those fancy, schmancy things, steve grasso. >> sorry. certainly we had a lot of m&a activity. options traders are hunting for the next takeout target. on your screen today, biogen. >> that's what likely got a lot of this activity going. we know carl ikhan in.

past. november 55 calls traded over 10,000 against an open interest of about 1200. there are reasons why you start to look at a name like biogen. then you start to put together some of the pieces of the buzzle there icahn has been there. he's always been rattling the cages, talking about a sale in the past. would they do that? it's an easy name to float out there. with the activity we've seen, right now we are seeing all kinds of rumor mills swirling all over the place, but plenty of activity. >> would you discount the rumors at this point? >> i think that with the paper we saw today and the institutional size coming after this, this wants just a bunch of retail guys suckered in. it seemed to be large trades coming in here. because of that, i participated. i own some of this right now. i like the name a lot and i love

the direction of biogen itself as a stand-alone stock. >> coming up next, the trade, the taste test starbucks just unveiled, new line of instant coffee called via.

welcome back to the second half of "fast money." starbucks rolling out a new product line called via. the first shot at instant coffee. investors sent the shares down 1% on the release. how will starbucks get consumers to take to the new offering? pete najarian is a lawyer starbucks customer. he is a coffee connoisseur, expert in all things java. we thought we would put via to the test before we give you the trade. we were careful. we tried to eliminate all the

variables. same exact size cups, tried to have the same temperature for both beverages and pete has been blind folded during the preparation. >> no idea. >> start with a. >> smells great. >> bouquet is nice? >> well, this being lukewarm. holy hanna, that has a kick to it. >> we didn't say the temperature was right. >> that's the via right there. i'll try that. >> let's see how right you are. >> now that one is hot. that's not even fair. i'm going to put my biggest bet right now, my crummy foam on this nokia no one else on earth owns. >> let's lift the card and reveal if pete is right. >> is it? >> pete, you were very wrong.

>> is that right, i'm wrong? >> so -- >> move over, big boy. >> i used to like that phone, but i'll go for a different one. if that's the case, it tasted pretty dag gone good. >> maria talked to howard schultz of starbucks on the "closing bell." we lost that spot. it's something like a $20 billion market segment very underserved. there hasn't been innovation in this category for 50 years since the advent of sanka. >> pete najarian got fooled. >> it was real good. i had a lot of friends of mine who told me this is starting to come back, this whole idea. >> of instant. >> the instant's working. >> is this a reason to buy starbucks? >> we just had greg talking about technicals. look at the technicals of

starbucks. it was up to 40 a couple of years ago and slid down to under 10. got down to probably 7 bucks back in november. you look at the retracement now. trades with a p.e. of 31. it's challenging 20. it's time to move to the sidelines on starbucks. the fact that they confused pete, which he will forever have to live down on this show. >> i'm a big coffee guy. to fool me, that's a big deal. >> you're out of it. that phone is a piece of junk. >> you'll never see that nokia up here. garbage. >> time for "the fast money" poll of the day. will via keep starbucks' stock rebound going? it is creating new revenue, but will you get your caffeine fiction via elsewhere. sorry i tried to ham it up with that. it's not funny. not at auchl. >> where could you go? >> yeah, not at all.

the mighty jobs report on friday with markets up 15% so far this quarter. will the data confirm the rally or perhaps derail it? joining us is joe lavorgnia of deutsche bank. >> we'll still lose jobs 100,000, unemployment will go up, but less worse than it was before. i think that's right. less worse than before. we are moving in the right direction. it's only a matter of time before we see the job numbers stabilize around zero. we had such tremendous job loss. i can't help but think companies have been overcutting employment. >> how long? >> the next couple of months. we lost over 7 million jobs, 5% in terms of percentages. that's too great. the economy stabilizing is not the end of the world. a lot of companies have to hire

these people back. >> clearly, we are rebalancing the u.s. economy. we are rebalancing the growth. the story is about the dollar. that's the trade right now. post-fed, post g-20. the dollar caught a little bid. is it sustain only or does it resume the secular down trend? >> i think it resumes the secular down trend. the economy in the u.s. is recovering. leads the rest of the world, convertly or perversely the dollar gets sold to other currencies. one of the reasons why you'll get the manufacturing sector to approve of it, the competitiveness of the u.s. will be better. >> it's a good thing for the economy at this point. >> i think it is. you don't want the currency to fall apart. i think the margin is a good thing, yes. >> what throws a monkey wrench into the jobs data? what makes these guys not hire people back? >> it's hard to say. it's like there is an old

expression, what can't go up forever won't and what can't go down forever won't. >> small business is not hiring. >> you see productivity go up. eventually that runs out of gas. >> here is the way i look at it. first half of the year we had positive profit growth of about 20% with negative top line gdp. if you have any positive topline gdp with operating leverage, profits go up the second half of the year, it's hard to see in that environment job losses continuing. the nature of business is to hire, grow your business, capital markets are healthy. so to me that's going to cost some companies, it will start with temp hiring first to eventually start to hire people. >> joe, good to see you. >> thank you, melissa. next, making volatile movements. is this a signal to buy or sell? our traders will have your answer next. $$$$$$$$$$

welcome back. not every trade you get on "fast money" will make you a quick return. sometimes you need patient. that's what our segment "slow money" is all about. a year ago as the dow plummeted a staggering 700 points in one

day -- >> it was a tough day. the dow jones industrial average, 777 points lower on the dow. >> investors threw out the benjamin graham and warren buffett bible. the s&p 500 closing out its best quarter in ten years, waiting instead of buy and hold my have served you better. nobody has a quicker trading draw than pistol pete najarian. after using a frenetic trading strategy to weather this perfect storm, even pete knows sometimes it's time to step back and smell the slow money. his long-term pick embraced the strategy for the next century. california is turning to alternative sources from solar, wind to ocean waves.

>> the key issue is what is the situation on climate change? we want to use energy efficiencies and renewables and clean coal. >> let's slow this linebacker down a moment and get pete's slow pick. take it away. >> slow money. >> did you play without your helmet? >> i did a little too long, i think, sometimes. i got really interested in the stocks. this name intrigued me when we had the ceo standing here and he was talking about the moves they are making forward for clean energy. the growth potential that they've got going forward from here at solar, where it's only 1% of their power generation right now, 22% coming from nuclear, a lot of clean energy coming out of them, but only 1% produced so far from solar, that's where their growth will come and you'll get profit because of the 4% dividend they'll pay out.

great performing stock. clean energy push they've got right now and they are going in every direction they can. he didn't completely dismiss coal, by the way. clean coal, he did talk about that, as well. they are moving as far away as they can get and pushing in the right direction. >> in terms of r&d, they run the largest energy labs by a public utility in the country. >> that was pete's "slow money" trade. time for today's edition of "pops and drops." a pop for boeing. it was up. >> might the dreamliner come out at some point in the feature? i think people are starting to think maybe one day it will. they got a big deal from qatar. >> walgreen up 9%. >> shift in inventory priorities and personal savings rates going up plays in the favor of buying walgreen. >> pop for palm. it was up 3% today. >> everything is coming together for palm, good earnings, the pre was good.

and pete needs a new phone. >> there you go. >> a pop for polo ralph lauren, up 4%. >> big pop from goldman sachs with an upgrade. they like the stock, potential growth over asia. talk about luxury handbags, $9 billionairia they think they can make more dent into. good for ralph lauren today. >> a drop for bank of america. the financial firm could be out $1.78 billion jillion dollars. the bank has been sued with this ridiculous amount claiming checks were rejected from his account. judge chen said he has until october 23rd to better explain his claims or it will get thrown out. >> got himself on tv. >> 15 minutes of fame.

>> billion trillion dollars. the after-hours action does not stop. the ceo of allscripts gives us a report behind the profit report they just released this afternoon.

welcome back to "fast money" we are live at the nasdaq market site in times square. allscripts allows hospital providers to switch their medical records. beating analyst estimates, revenues did miss estimates. stock trading lower in the after-hours session. ceo of allscripts glenn tullman joins us. nice to speak with you. >> great to be on with you. >> the revenues more than doubled based on the merger as well as demand from technology. what are you seeing in terms of future demand what you are seeing in the current quarter as well as the fourth? >> allscripts is the leading provider of electronic health records. we are the beneficiary of a $38 billion stimulus from the

federal government. what we are seeing is the fastest transformation of a major sector of our economy in the country's history. and we are the beneficiaries of that. we see customers who are interested today. that is one reason bookings for the quarter were up 47% year over year. we see a tremendous amount of interest and now we are seeing the buying behavior getting started even before the stimulus payment. >> glen break it down for us. how much are you, allscripts," poised to capture? >> we believe allscripts has 1/3 of the market. any way you slice it, we are talking about a multibillion dollar opportunity for allscripts. without quantifying how much we are going to capture, we believe that under any set of circumstances, we are going to be the leading player in the market going forward. >> so mr. tullman, looking ahead, you just got a piper upgrade a week or two ago, but

looking ahead, knowing that money is still earmarked out there, do you feel like you guys are by far undervalued, despite the fact you are near the 52-week highs right now? >> what i would tell you is i think this whole sector is going to grow. we are talking about a $4 billion sector that is getting $38 billion injected. 70% of that, by law, will be spent over the next three years. however you want to figure it, every company in the space is going to benefit. >> glen, nice to talk to you. final trade after this break. eeeeeeeeeeeee

allscripts on glen tullman. pete, what do you think of this stock? >> i like the entire space. $50 billion could go into the space the next couple of years and they are already clicking and doing well. there is a lot of growth there. a lot of these names, 2010, 2011 suddenly got brighter. i'm very bullish. >> i hate subsidies and i hate stimulus, but this is one great place to put some money. this is the sector you want to be in. >> okay. tonight we should point out to viewers a new series debuts on cnbc, "executive vision." it will bring together some of the great leaders in the world. tonight's premier looks at the leadership challenge in health care. here is a preview of what you'll

hear from pfizer's ceo. >> you can't be in the medicines business and not be part of the generic drug industry. that is the plate that is going to provide access to the hundreds of millions of people in the globe who don't have access to medicine. we are significantly in that business and getting into it even more. >> "executive vision" with melissa francis. gary did a great job talking about underperforming. exxonmobil. >> senate committee rejects public option. >> i like children's place. attractively priced. >> great performance from nike. >> i'm melissa lee. thank you for watching. see you back here tomorrow for more "fast money" on cnbc.