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tv   Fast Money  CNBC  April 24, 2012 5:00pm-6:00pm EDT

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posting the biggest gain in a week. the dow and at&t. 3 m and the dow up 74 points. that's the latest from wall street. thanks for joining us and see you tomorrow. stay there because fast money begins now. i will talk to you on twitter and google plus. tonight for melissa lee. trading the apple ecosystem after another blowout quarter. breaking it down from every angle. components to service providers. after hours action from panera to juniper. the science of making money. a 615% return since inception. where he sees opportunity now and how he finds value using astro physics and economics.
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this is fast money and let's get to the after hours action in apple. you start to run out of superlatives when you talk about apple earnings. 35 million iphone? you didn't expect it based on the conversation before they came out. >> i did not 35 million iphone. >> you didn't expect 30. >> what i did expect and continue to expect is incredibly good fundamentals for apple and that is not the story of this evening. it's a continuance of quarterly reports that continue to exceed expectations. the question now for trading is this. this is a stock that was tactically broken. if you take aapl off the chart, it looks lousy. with this stock action, stocks above 600. you neutralized that from a technical standpoint. you can no longer go over fundamentals and it gets back to an even debate. >> the stock lost 10% of its
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value and yesterday it centered around going through the 50-day moving average and it was a technical story and you had worries that iphone would disappoint. all that out the window now? >> i hope it is. these kinds of numbers obviously superlatives are warranted. ironically this takes us back to wednesday of last week. i don't know. i look at it on fundamentals alone. i hate that apple is a proxy for market sentiment. i hate that about it. i just focus on the fundamentals and they are fantastic and they are attractive to me. i own it here and we are not selling any. i owned it last thursday when it was going down 600 and not up. not a lot of change except for good fundamental earnings. >> brian is the it hardware and networking analyst and has a 1001 price target and raised the
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at&t results and they were overblown. okay mr. 1001. you must feel good right now. >> apple fever continues. tonight's trends really drive home the point that people around the world continue to buy arple products. stock is still cheap at nine times and iphone 5 is on the horizon and a blowout tonight. we think this is going to over 1,000. >> you make a good point. the international sales account for 64% of revenues in the quarter. even if domestic sales slow down, the world is apple's oyster at this point. >> it's a great point. this iphone 4 s came out in the u.s. on october 14th. six other countries and you had four phases of iphone launch for a 4 s ending in january 13th with china and 21 others. that's why the at&t and verizon
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numbers are misleading. >> why are they not paying much attention for the next quarter that is below consensus. that was up $40. >> i think they are always conservative on their guidance. they will put conservatism because they don't know how the iphone 5 will impact sentiment in the june quarter. i look at last year and they guided down for 5% decline in refugee and they grew revenue 16% sequentially. they are known for the outlooks and that's another one. >> is the only thing a change in the subsidy model? i don't know what else is out there. >> it certainly is a risk, but i really -- who owns the customer at the end of the day. not at&t and verizon, but apple. it's always a risk. >> when you think, i don't know
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why apple gives any guidance at all. we know exactly what it won't be. whatever they just said. that's all we know. i don't know why they bother. this company doesn't seem to care and it's not their focus. they didn't focus until recently. why do they bother giving any guidance? >> they want you to be in the ballpark. directionally some type of direction when people model. >> you are about to get on the call. what do you most want to hear? >> i want to hear about channel inventories for iphone and ipad. what was this great thing in china, launched january 13th. if there is any other talk about apple tv, ipad mini. they don't talk about new products, but any hints would be helpful. >> get on the call and we will talk again soon. >> john will be listening as well and he will join us with
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developments. >> the street got in from the at&t numbers, but you can even still buy at&t and verizon and listening to it today, they were talking about how the iphones and the ipad activations are increasing that data and increasing the data. this is another good data point for those two stocks. apple is just a juggernaut. they continue to sell the products and it's all people want. >> i agree. apple came out with the big quarter. remember, going into the end of the march quarter, a lot of funds were chasing and a lot of hot money came in that wanted to be invested at the end. that moan came out and you saw a lot of negativity on a company that is so great and has so many great products and so much negativity came in recently. now people will have to start scrambling and positioning themselves. i think the play is some of the companies. >> that are goes to the next conversation. the so-called ecosystem is
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rolling after hours as well. they are some of the biggest movers after hoursful you hit one. what's another one? >> the first place is cirrus and the stock really depreciated in the last couple of days to around 20 1/2. something brian white talked about and understand the guidance going forward for the next quarter, i don't think the guidance is particularly conservative because they believe there will be a stop in demand for the anticipation for the iphone 5 that will not come until the following quarter. if they were going to be conservative, it's not june, but in the september quarter. that leaves plenty of room. >> cirrus is up 8% after hours by the way. >> you have to wonder where the sales are coming from.
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i have the calls to make the debut something. i can't imagine this is great for them. >> out with earnings tomorrow, corning and sprint nextel voting before the bell. what do you think about them? gorilla glass and that's with the handsets and the tablets and everything else. >> we talked earlier and corning is just under a ton of pressure. >> both. go ahead. >> they have been under a lot of pressure recently. today we pumped in the halftime show and came out with earnings. the stock rallied. if you look into this, the lcd business and margins gots hit. down about 5%. the stock ended upcoming under pressure. i think this could be a negative for corning, although the stock has been hit hard and at depressed levels, corning could be in a bit of trouble. >> corning has sucked for us actually. it really has.
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lcd story has been weighing on the stock i don't know how long. it seems like more than a year. i hope they are getting past the valuation at this level. the balance sheet is doing an aggressive buy back. we will have to see. they are brand-newly disappointed. >> short interest is low and what ails corning unfortunately is structural problems. they are going to release the morning after apple comes out with blockbuster earnings. the index will look better tomorrow. a good day to report. >> after what at&t and verizon delivers, what do you expect? >> the deal with print is that they signed an agreement and the near term for print is where you have the danger and whether or not they are able to get over the funding gap. i believe sprint will get over it and stock will get momentum as they get closer. sprint has a show me story. i want to wait and see if they can get closer to being able to
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get away from the talk of possibly going bankrupt. you got away from that and have a $5 or $6 stock. >> that are say self-fulfilling prophesy. customers leave and who will finance you. sprint is financed and i will go out to buy a new phone and i think i would stay far away. >> on the options desk, you see a fair amount around. >> it's interesting. sprint has a $2.5 stock and is almost an option itself. about times the average daily volume traded. the most active is august 2 1/2 puts. what people are looking at is trying to make a levered bet without risking the 2 1/2 dollars they have on the sable. if people own the stock, they are betting it is going to break more than 40 cents in one
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direction or the other. that's probably the best thing you can say. there is still a way to play it with leverage. >> next up on fast money, should you buy on chip stocks following results from apple. the trade is straight ahead and david harding, chairman and founder of wyndham is finding where he has opportunity in the market. another fast money exclusive.
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they're big get $100 rebate, plus the low price tire guarantee during the big tire event. so, in other words, we can agree that ford's tire event is a good size? big big
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>> welcome back to nasdaq money. the chart of the day is apple. shares up $40, better than 7%. ble out numbers yet again from a company that keeps topping expectations. take a look at the qs as well. they were down into the close and technology has been weak leading up to the earnings. not so much after the bell. up another 1.5%.
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an interesting story. i am going to get a quick comment from you. why aren't you more fired up about the results? you seem subdued. if you don't own apple shares, are you pipped? >> i stopped trading apple and apele is something that for me personally is not desired. it's like a futures contract and some find it beneficial. i don't know if i do. the fundamentals get so dislocated at times with apple and you have seen that over the last couple of days. it's a lesson and almost similar to what we saw with gold the last couple of years. you can always make the argument for gold, but at times it is dislocated. the best move with apple is just invest in apple and own enough so you can with stand the 50 to
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$75 swings. >> with apple, it's a barometer of sentiment. some trade bonds and commodities and every one has apple on their screen, waiting to see if it breaks the 50-day moving averages. it's become that type of stock. unfortunately it's a great company and great fundamentals, but it is a barometer of sentiment. this is good for the market overall. a lot of retail investors and may encourage people to get back in. >> earnings have been great. 80% leading expectations. take a look at shares of juniper. juniper is another one surging after it reported better than expected earnings. take a look at the stock. you will get a look at what i am saying. just like apple, up more than 7%. >> relative to what we are seeing. >> when you look at it, june is one of the types of days in 1953 with the low, significant reversal and stock has been really trading value.
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>> i wonder if this removes the concern about a router slow down. maybe it does. that was the concern last quarter. >> they're came out with great numbers, but apple has gotten so big that the whole focus will be on apple. >> there was so much negativity and i agree with joe. when a stock comes in and it's the headline maker and we see the stock reach the top and that's the price target. the stock topped out and fundamentally what else can we take? >> on juniper this goes to the theme going on where larger companies are paying to increase predictivity. juniper is one of the names. we saw it with ibm. everybody is coming in and saying okay, maybe europe will be slowing and asia is growing and u.s. growing and how do i manage my earnings and do better? i put in faster routers and buy
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better phones. >> i wonder what cisco is doing off of this. would you buy a cisco off of better than expected juniper? >> i would go further down the line and look at logic where you start to get the pieces parts of the faster routers and get the ten gigabyte ether net. >> that's the name that i like and the fact that it's bottomed here. you can define the risk down to 1953. no one right now really is in the stock that has much in terms of favorable expectations for it. there is upside. >> check out second derivative plays off of apple's earnings. shares are up more than 2% after the earnings blowout. look at more names. broad com and both certainly have components that are inside the apple products. let's go to john now listening in on the apple conference call. what do you got?
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>> they gave a bunch of excuses for the lower guidance and they did it with the straight face. i want you to see they can buy any of them. they said the built up iphone channel inventory to the point where they believe they were able to pull forward the demand that they had in june of last year into this march quarter. they don't expect the demand to show up. they said that the new ipad launch with more supply was significant. they pulled forward the sales and also they decreased the entry price of the ipad 2 and the dollar has gotten stronger and they expect all of that to have an impact and all of that while they expect a decrease from the quarter to the june quarter than they had in more than three years. you buy it? >> let me ask you, do you get the sense of listening to the analyst questions, the tone that most of the wall street community even as bullish as most people have been that even they are surprised by how good
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the numbers seem to be? >> there have only been a couple of questions. they are always a bit surprised and the tone is just as much as always about how conservative apple is on guidance. they are shocked we sold 35 million iphones and did what was it, $5 to $7 billion. >> what about the question posed whether you believe the excuses here. >> no, the guidance is consistent that apple always presents. brian white introduced this pause in the demand because of the anticipation of the iphone 5. that's not going to be the case. it is interesting to see the strategy in terms of capital allocation and what the dividend plan is and if they talked about that. >> $110 billion. that's something i'm sure that karen would want to hear. >> yeah.
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if you hear anything else, knock on the door and we will let you in. these a semiconductor analyst to talk more about apple's ecosystem and the the chips in there. what's your reaction? >> this is good for the ecosystem. >> you think? >> it's obvious. incredulous at something. i can't imagine that. you saw it better across the board for iphone. it has. that's good. you talked about the smaller derivatives and i like to focus on qualcomm and broad com. the stocks that are apple suppliers and they supply the 4g and 3g and the ipads and broad com provides other connectivity and wi-fi. i think the stocks are up after hours for good reason. >> coming off of texan, this is good for the space. >> this is good for the space. i prefer to focus on product cycle stories. if you look at semiconductors broadly, you have seen a lot of
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names run up. you had everything fall all over themselves to call bottom and q1 was the bottom. everybody is concerned about the trajectory and the cyclical names like texas instruments and analog device. these are gdp type and they're playing relatively and pricing multiples for the earnings on the names. the fact that texas instruments was down didn't surprise me. i want to focus on the names exposed directly to apple with the product cycles. >> let's open the floor. >> we heard from john ford about the guidance as an analyst, let's use that as an example. you go home and you do work on that. does that guidance change your view? >> no, it doesn't. of course you are always concerned about it. you always have to be careful about what apple said. apple has a history. i would never want to read too much and i try to take what management said and think they
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are telling me what nay think will happen. >> it's a little bit different in the food chain to say. the question that i want to ask is are broad com or qualcomm numbers out of whack with what apple numbers are. are the chip names racing ahead? places where i get concerned about that are more on the industrial side. you talk about the texas instruments and names that sell under broad based industrials and apple phones and samsung phones. those numbers have been good. you are pretty happy and by the way, you mentioned it before on the router side. brought com has a big business that cycle changing. that's another reason to like broad com. >> i'm long on broad com and have been waiting. after they announced e i said i was going to get a call. i assume it will have a nice
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rally. how do you compare with the sell off to now what you are hearing for apple? is that a weakness within qualcomm or companies. >> they had operational and execution problems. they were down significantly because the guidance was light on supply. qualcomm gets the chips or manufacturers from taiwan semiconductor and other foundries. they got everybody nervous about apple and their guidance was light and they blamed it on supply and they left the conclusion and maybe we are not building enough. it's an operational concern. qualcomm should manage it better and it was disappointing that they were not able to ensure supply to meet demand. that is leaving revenue on the table. qualcomm brings the register any time anybody buys the smart phone. there is a lot to like about the story. >> great to have ow the show.
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>> i think this is interesting. going into some of these earnings, we saw that options premiums were at high levels. apple trading price the volatility. they were traiting to seven times the value. a lot of that excess premium is going to come out and people who were long on the stock and short calls, they will come in significantly. that's good news for investor who is were interested in pressing longs. that will make it less expensive to hedge. they got so elevated going in. >> next up, we are trading tomorrow's results from caterpillar tonight. $29 billion worth of advice from wyndham capitals. find out as fast money returns. auto-bliss.
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>> welcome back to fast moan. our next guest created two of the biggest hedge funds in the world. head of research. his fund is up more than 615% since he founded it 15 years ago. he grew the fund from two million to 29 billion using mathematics to calculate the move of the market. it's an exclusive interview. it's great to have you. it's funny. i would ask you if you owned apple and you said i don't think so. do you know which stocks you have since by and large it's this quantitative analysis? >> not always. i have some idea and i can guess, but we have positions in 2000 stocks.
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they change from quarter to quarter. i think they always know exactly what the positions are. >> you are not a traditional investor. your star is small. you have statusticians and one e c conmists on staff. >> lots of different things at any given time. we are not making concentrated bets on any particular thing. we are looking for patterns of behavior. we are looking at the data with computers and i'm betting on the patterns that occur over and over again. we now have a big -- we are not good at forecasting. it's difficult to say give us a tip. they are useless. collectively they are useful. >> let's put the computers aside and use your wisdom. what do you see in the markets. the global markets with the concerns we have in europe.
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growth concerns in china and our economic concerns in the states. >> we have learned a few things about my abilities. we will forecast what is going to happen. the strategies and they look for the patterns. i can tell you not to be too coy. anybody thinks this is a tip and they know something very wise. we have the stocks and bonds. some of the metals and we have mixed decisions and we have the modesties and the currencies. >> they have the pace of a canadian dollar. >> $29 billion, a lot of capital. how diverse is your portfolio?
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what's a big position for you? >> we have big positions. but it's not a highly leveraged fund. in a way, it's an allocation and a global allocation. we have a little bit more latitude that makes people. i am slightly ashamed to say. we go short and i am afraid to say short of stocks. that's why we profited. we were short all the way through. we try to make a lot of money by putting it there. when the market was crashing. we were buying. not really because we were pullish. they were saying risky, risky. they were destabilizing. >> to the criticism of high frequency traders that you are
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causing the flash crash and things like that which we sl seen, your response is what? >> we are really not a high frequency trader and don't turn the portfolio very, very much. some might argue about what it means. the court has it gradually and change it slowly. not high frequency. that was a company in the united states trying to sell 75,000 comments. you cannot sell 75,000 contracts in 20 minutes. it is not possible. if you do, you will crash the market. >> to that point, you trade the futures contracts and i don't know if you trade them at all. when you look at those futures contracts, what's the duration of your holding. >> is it shorter? >> i would be uncomfortable trying to sell more than that in a day. my clear is not to impact. every single projected is not to have any effect on the market. if it effects the market, we
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have become the thing that we expect to be. not science. it's not hard science. the markets did not have laws like physics. we can use computers and mathematics to find interesting things out about markets. it's a specialized area. it's not -- you don't say that anybody else is wrong. >> i'm curious about your views. they have bought puts against the hedge and it's volatilities are high. seems that that's the crowded trades. at least in the past, you said you often are. is that the most crowded trade being long on volatility? >> puts are always overpriced in general. people are always willing to pay up in an experience premium.
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that's short of puts and options. 15 puts over long periods of time. they can be shown to make it quite profitable. we don't do that in a big way ourselves. we are doing a little bit and an example of something we test with computers. most of the time. >> huh a great career so far. great job. is there one instance that stands out in your mind. your models were showing something completely different outside of say october of 2008 and one thing that stands out where the mining of the stars set something up where you made a great call and huh a huge profit? you may remember the story. obviously what was going to happen? they are going to turn the spiggots on.
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that's the image in our minds of the spiggots. that will never go. we were long at $30. we were on 50 or $60. we made a lot of money. i used to say an outlandish thing is oil might get to $100 and there might be a strike in the mideast. there is an example that we wouldn't imagine happening. it's in everyone's consciousness and it's quite normal. they might have been stupid enough. >> you have made a lot of money. i know you don't want to make predictions on things. can we surmise long stocks, you are not overly concerned about what's happening in europe. if you are long oil, you are not
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overly concerned about a dro mattic slow down. >> generally nervous about things which is why we up rate a low level of leverage. i'm not comfortable with the high leverage of funds. the environment we are in, it's dangerous to be very highly leveraged. that's one of the famous old sayings. the 80s, i was there. some of you guys were as well. you look at it now. bad news is no impediment to a good market. >> trying to get an asset that gravitate towards. we began by asking if you had apple or traded apple itself. it would seem to me that the
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historical price action in apple would be something your computer would enjoy trading. why is it not? >> the industry is the trend that you call the cta industry. stocks, bonds and currencies. mostly commodities. in the last five years, we have been applying ourselves to stocks and trying to fight the question and rebrand ourselves and show our skills are also individual stocks and doing more of that now. i believe it can be applied to the stocks. it's not as simple as running our systems and running our trend on the stocks. it's not as simple as that. >> i know you don't do this often so we are greatful for your time. >> thank you very much indeed. >> next on fast, is chipotle's
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monster run starting to burn out? we have the trade and we will bring you all the after hours action in panera. ♪ ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge of your future. ♪ ♪ oh, oh, all the way ♪ oh, oh
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all the apple, a few interesting details i have to bring to you. it is an incredible quarter in china, the best ever. $79 billion in revenue, higher than the 7.5 billion they got from at&t and verizon combined. the china revenue is up over 3 x largely due to pent up demand. he addressed the shortage issue that we heard about. apple doesn't currently use the parts and we will talk about future products. he talked about the consergence of pcs and apple is not going to play that game. others are and you can combine a
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refrigerator and a toaster. you won't get a good product. apple saying that they have over 125 million subscribers. back to you. >> thanks so much. it will be hard pressed to find a period of time transition than what is taking place after the death of steve jobs to tim cook. do you think questions will ever be asked about tim took's ability to deliver results? >> as long as there performance, no. it's a company that has a culture that continues to go on. tim took has been there for a long time. >> it's off the table now? >> the product they have. as long as they continue to sell the product and nothing goes wrong, it's fine. >> until when steve jobs passed away, there was talk they had the next five products or three years worth of products. i think the jury is out until such time that tim took's own product is out in the market place. >> for may be a harsh jury.
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better than expected numbers after the delta day. they beat expectations and revenues did miss. there is the stock. not exactly a spike, but up better than 1%. great to have you on the show. your reaction to panera? >> you had comps that met expectation and order today. guidance came up a little bit and this was before you started to get the benefit of the national advertising. chipotle, why the down? >> it was really, you are seeing a deceleration into the trents. you go into the growth stories and consumers. when you see the restaurant, it has been an issue with the spot in the deceleration. what is the right multiple.
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it's not the one. >> it was back in the mid-to high 30s and that's where it is right now. it's this six to seven turn that our analysis wouldn't buy or the next year. >> it's brian kelly. on chipotle, we see this a lot and not to suggest it's a rainforest cafe, but when they stop expanding so fast, they have a tough time. you downgrade and that's dead money now. is there anything on the horizon that could reawaken the growth? >> this is one of the best growth stories in the consumer. you have the decade left in the u.s. a lot of under appreciated drivers and potentially an expansion of the customer loyalty program and even trying to leverage day parts. that's before you get to the chop house international. we are very, very big believers in the long-term story, but we may pause for a com of months
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here. >> let me ask you a quick question. you have mcdonald's and starbucks that appears in the last couple of days exhausted the price of depreciation. is this a pause that may have refreshed us down the road? >> a lot of the market fining out what's going on with the april friends. in march the numbers didn't look great and april is off to a rocky start and trying to understand hopefully we will have a better idea. >> absolutely. it's interesting. in the high valuation situations, sometimes you can have a good company, but it's not a great stock. this is a situation now where what's happening as the sfok rolls over, it pushes up and we have seen this with a lot of great companies. wal-mart was dead money and the company itself grew. this is still a growing company, but if you owned the stock as
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options get more elevated, a great way is selling upside calls. >> next up, as amazon dropped, we are trading the big move into a new market. more fast up next. [ male announcer ] if you want a luxury car with a standard power moon roof, standard keyless access, and standard leather-trimmed seats, then your choice is obvious. the lexus es. it's complete luxury in a class full of compromises. see your lexus dealer. it's complete luxury in a class full of compromises. for a hot dog cart. my mother said, "well, maybe we ought to buy this hot dog cart and set it up someplace." so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years.
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[ tom ] we invented the turbine business right here in schenectady. without the stuff that we make here, you wouldn't be able to walk in your house and flip on your lights. [ brad ] at ge we build turbines that power the world. they go into power plants which take some form of energy, harness it, and turn it into more efficient electricity. [ ron ] when i was a kid i wanted to work with my hands, that was my thing. i really enjoy building turbines. it's nice to know that what you're building is gonna do something for the world. when people think of ge, they typically don't think about beer. a lot of people may not realize that the power needed to keep their budweiser cold and even to make their beer
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comes from turbines made right here. wait, so you guys make the beer? no, we make the power that makes the beer. so without you there'd be no bud? that's right. well, we like you. [ laughter ] ♪ [ laughter ] when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule.
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tool time for amazon. the company launching the supply this week, it offers everything from office products to nuts and bolts and analysts say the amazon move can put pressure on industrial whole sailer granger.com. what's the trade there? >> this came out of nowhere and granger got hit around 8%. >> down the last couple of days. rallied into the close. a couple of names that you can look at from the short side. anyone who got in the way has lost. you look at fast not. home depot i have been looking to get long, but i had to reassess that. if amazon is really going after this market where you want to buy a pipe, you go on amazon and rather than going into home depot, that could be something to look at.
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>> up in the bird's nest? >> it's interesting and they cited as a threat and said they were going to invest money in the internet business to try to catch up with that at $370 million. amazon in addition everything we talked about also has earnings this week and options markets are implying about a 7% move and about a $14 swing. a good way to try to take advantage of that elevated premium is to get long spreads and the one i am looking at is the april weekly. 185 put spread. i will look to sell the puts and those trading about $4.5. $6.40. a net debt of $190. the accelerated decay that will have a couple of days and experience as the week goes into the close. >> of course you know you can catch more on mike every friday
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at 5:00 and follow the show on twitter at cnbc options to get trade updates. next on fast, the story that is out of this world. we asked total strangers to watch it for us. thank you so much, i appreciate it, i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money ?
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>> planetary resources launched today backed by big name investors like james cameron and larry page. they will be mining asteroids for precious metals. live with more. hey, jane. >> finally getting the idea and not much by space standards. planetary resources backed by billions as karl said has those investors. page and schmidt and the firm hopes to travel near earth officially for tens of millions of dollars. getting it down to single digits. using robotic spacecraft and searching for the asteroids and say potentially a million within reach sending tens of billions
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worth of platinum and others back to earth and extract water so that passing spaceships can load up and carry into space. to extract hydrogen from the water and be a rocket refueling station. they told them they know the risk is high, but so is the potential reward. >> if it's successful, we hope to make a lot of money, but we are not interested and we know it's not going to happen overnight. we understand there is a pot of gold if it is successful will be big. >> while page and schmidt is backing this, they are not an investor. back to you. >> i guess they have enough money to play around with and take the risk. >> absolutely. and google as a company is backing the ruinar price. this is just the individual. >> thank you. >> i can't get over the pot of gold at the end. it doesn't work. >> if there was ever a sign in
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commodities. >> your first move when we return. fast money is up next. hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business.
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