winners. the the s&p 500 edged down a hair. as you can see there. that will do it for the closing bell tonight. i will see you tomorrow. hope you are following me on twitter. stay with cnbc. fast money starts right now. have a good night. >> stocks poised for their seventh week of gains. >> how much longer can the bulls climb the wall of worry. >> its leader showing no signs of slowing down. >> apple eclipsing the can'tization back in 19 9. >> amazing. >> but not so fast. some unusual surprises may awas us. >> the wait is finally over. the augusta national golf club has admitted female members. >> karen is ready to tee off and john watching volatilitity

thises investors better great ready to yell fore this is fast money. live from the naz tack market site, i'm melissa lee. apple becoming the largest market and cap company in the world. in terms of buying into this at this point you are seeing a lot of evidence that people are willing to do that? >> exactly. during the day and we saw discipline. something you would be happy to see when people are taking a little money off the table. it is nearly a quarter of a trillion the dollars this year. today somebody took off an awful lot of the 6:15 calls. then they stepped up.

1.2 million shares of apple equivalent. so that is nearly 3 quarters of a billion dollars in a single trade. i am not surprised that they are gyrating towards options. options given the leverage. >> likely we will keep in mind if inflation were to adjust, it still has a lot of room to actually take the record. microsoft would still be the record holder in today's dollars. apple would have to eclipse $900 a share. so this by a long shot is not over. >> when you had apple go from

400 to 600. i think at some point we will talk about a change in performance whether it be price line, chipotle or starbucks. so growth managers will gravitate to a name like apple. i will remain long apple. i think that's the right trade. now your point of reference, your defined. owning the 640 puts below. that's a relatively easy trade and one that i suggest making. >> at what point do investors start to get stretched. >> in terms of the cash. i don't know. this is a little bit of lev tags going into an iphone release, which is kind of ridiculous.

last quarter the street was somewhat disappointed. but everyone knew there would be another iphone release. i own it. i'm not going to trade around it yet. i think evaluation is attractive and i to want to own it closer to the next phone release. >> and i think what you do is you look at the second derivative names first. the logic that could not bust through 40. if you go and lighten up the position, those are the names that you look at. the knew wanss. last couple of days they are not performing in lock step. >> walk me through this idea. if you are questioning whether or not apple's run is going continue, why would you put money into these other plays. the one place i that want to

take the risk after is not apple. again it's up 31% quarter to date. could not get through 40 bucks. didn't like the close today. i would go there before i go apple. >> you ask a really interesting question about some of the component suppliers and why they are not moving with apple. i think when you have such a huge amount of portfolio managers who are underperforming, nobody gets fired for buying apple is the word on the street. but if you get something like a logic or synaptics, you will pay for it when you go and answer. really being able to justify what you look at. >> when in doubt, let me put more apple on it.

>> george is revealing that he is taking the passive stake in manchester united. it is now, i believe, trading lower than 14 after their institutional support pulled out. >> and you're paying about 80 cents to be short that stock. so it's a very expensive short. this is one of the toughest borrows on the street. and perhaps knowing with his name attached to it maybe he can get a little pop out of it. >> i would take the other side of that trade. i bet john is right. he sees an opportunity. maybe some upside. truthfully if you look at sports franchises. there has not been an ipo of a sports franchise in a decade. the reason why is they don't treat investor capital very well. they will sell a lot of it is in

the valuation there. >> it might just be trading with your heart, not your head. >> i would probably buy themm t themment. >> apple is closing at a record high today. can the market keep riding its coat tails? >> if you look at the markets, it has done pretty okay. >> i don't think the market itself is riding on the backs of apple. if it's all about apple, at some point we are in a lot of trouble.

>> their utilities have led us higher. a lot of these are there. it's not all about apple. >> aaron, a bunch of folks on twitter are reaching out to me, surprise surprise. and they were saying take a look at att. apple is so far out performing in terms of the run that it has had. 15 billion in market cap in one session like that. how is that justifiable? and then i look at the real numbers and apple does about 120 billion in revenue. you look at att. they do about 60 billion. but they only make six. so that is a slow money trade. the carriers.

they will stop subsidizing the iphone. we will see what happens when the iphone 5 comes out. we are in a state of markets where the investors are so spooked by the flash crash. you name it. facebook offering didn't help. >> i think it is the last stock to have any faith in. you are talking about facebook. that was the death nail. i love the products. everybody is on one side of the boat. if anything goes wrong it will get ugly in a hurry. >> stock split yes or no and

good idea, yes or no? >> if they are going the dow, 3 for one split. >> he is not here any more. something that steve jobs wouldn't have done. again, you are just cutting up the pie. it's still the same pie. >> one of the reasons why this market has gotten so little respect is because it was led by te telecon utilities and tobacco. is that a reason this rotation is broadening out? >> it got taken off the table. i am in all of these defensive names and if the global economy will not come to an end, let's look further on the risk spectrum. i know you have been talking

about this. so many people are underweighted the market or short. >> that is breaking news here. peter sells majority of his remaining facebook shares. this according to a filing that was made with the sec. peter selling the majority of his stake there in facebook shares. this was planned prior to the ipo date. this was a preplanned sale of sells. early investors exiting groupon. >> thanks so much.

it looks like he is retaining a little bit more than 5 million shares. it is interesting to point out that this was a preplanned sale. . that was before facebook's ipo. peter has been invesed. i have been making the investment. >> let me ask you, if this was part of a prearranged sale that was agreed to, would he have the right to withdraw that sale if he was not happy with the stock price? >> i am just looking at the form for now and this looks like it is part of a trading plan. i believe that he -- i am not sure. this was a plan that he put into place.

i would guess that no matter what he made a huge amount of moneys. facebook was not worth anything. >> so give us a backdrop here. >> individuals can make decisions about what they are selling. traditionally with the early investors. if you are an angel investor you tend to exit soon after the ipo. i understand i don't believe we

have excel actually selling. >> we will talk to you later on in the show. >> i have seen sales on facebook sales sold. >> good point. thank you so much for that. peter selling 22 million shares on thursday. the first day of the lock up expiration for facebook. >> you know what this is like? back in my brokerage days, we did spot secondaries. by the next morning you had it placed at 10:in the morning.

>> is that a good sign in your view that it is disclosing, granted it's a preplanned sale. 22 million shares sold by an early investor in facebook. the stock is not moving. for a trade, the trough in facebook could be in but you will have a tremendous amount of overhead resistance. this is a trade. >> the drama at best buy builds. is there anyway to make money off the battleground stock. stay tuned.

looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity.

>> taking a look at shares of urban outfitters. retailer reported stronger than expected fiscal results. earnings were 42 cents a share. revenue topped analyst estimates as the company saw strong sales. including those in the know. same store sales. consumer businesses. and making comments to company ceo looking ahead to the second half of the year. they are expecting a gradual improvement in their business as the company looks to control the inventories within the stores that it. operator:s.

>> it's selected a new ceo. this comes as buyout talks appear to have broken down. what's the best way to trade ahead. managing director of equities research. michael, always great to speak with you. let's break first with the break down in talks. a deal could actual happen, did you? >> any kind of reasonable borrowing rate. he will need to raise an inekremtal borrowing equities. he has got to convince a partner that this is a worthwhile endeavour. s shults knows everything about the company.

>> you pointed out that you are most dissatisfied if ied. perhaps the turn around is more important. >> i don't remember carlson as a hotel chain ever having a problem at all. obviously their travel agency continues to get killed by internet competition and i have not heard success stories. his turn around was an abject failure. he left conveniently before world of war craft. he had nothing whatsoever to do with that. that was back when you and i were both in diapers. i don't remember that far back. >> let me ask you.

does he not have any other support on the board. certainly not shareholder friendly. >> no, i would say that first of all, the boards move today in naming this guy showing you that they are pretty much out to lunch. for us to start looking at them and assuming that they are behaving rationally is overstepping what really in fact is going on. i think that they don't want to be painted as failures. they want to have their own turn around and bring in their own turn around guy. they bring in the best specialist in the area. i don't know how they found this guy. this is a huge stretch. . he is the guy to fix this company and he has never done a turn around. >> michael, you have got it on

the stock. still provides upside from where the stock closed. what is going to lift it to 20. >> this is -- i made a bad mistake back at around 32. i thought about a downgrade to sell. i literally thought it was around 25 at the time. i just can't lower my price target fast enough to keep up with this stock. i want to see what they say tomorrow. i want to see how they address the feeling with him. this guy is real. he is serious about putting a billion of his own money. >> the orderings are up. research -- radio shack also

falling sharp ly. >> certainly now that you name a ceo as michael correctly identifies with no retail experience. the only thing i will say that i disagree with michael and i don't know if you f similar, but why wouldn't he reveal who the equity partners were? why would he present a fully funded offer to the board? >> i believe he can under minnesota law. >> they may not want to be mentioned. >> i don't know that a lender would sign on to say i am fully committed without having been able to be on the inside and see the books. >> the odds don't look great. i don't see how this doesn't turn out the way borders did in the long, long run. barnes and noble, radio shack. >> what do you mean in the long long long run? a year? >> you look at the charts and they all look exactly the same. major one-day spikes when there

is news and then it dissipates. the trend line itself only heads in one direction. >> walmart is taking market share. clirly rotating back into walmart. >> let's move on. kochb tri shareholders. dr. jay noticed a suspicious trade last week. >> not that karen did. >> i didn't know any. >> she does trade options, folks. somebody stepped in and bought a whole bunch of january 33 calls. with the take over north of 42. obviously the deal is worth more

than $42 a share here. the person that bought the calls had a windfall. they bought 2400 of them. this teal was not announced until over the weekend. did they follow in because they heard that there was a $6.6 million share stake? that is what i would say if they came knocking on my door saying did you have any insider knowledge of this. i certainly don't but i think that people will look at this trade and say wow, that's an awfully shrewd bit of timing. >> when they catch these things. >> the person does not exactly have a history of trading options. >> and josh? that's a -- and the other one is you have got two boards here. we know that they were approached.

>> it's not the same as when you approach somebody with a hostel and say i want to buy you. this was negotiated which means there was more time for leakage. >> next on a fast, a retailer. we have got the trade on some of today's biggest universe plus. more fast money coming up next. . with the available lexus enform app suite, you can use opentable to make restaurant reservations. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ]

[ male announcer ] ...forbusiness.com. it's something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife.

america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade.

>> back to the big story. selling 22 million shares of facebook. he is retaining a $5.6 million stake. this is part of a preplanned sale. more on the story from julie who joins us once again on the fast line. >> so the big question is could peter have cancelled the plan to sell the shares. this plan that he put into effect on may 18. i have more detail here. apparently it's possible for him to cancel the sale but it would be highly unlikely because he is an insider.

the fact that he is on the board, he is an insider and could not have confirmed that he did not have any non-public information. >> karen? >> disappointing retail. you know? >> looks like it has got a little more trouble on the horizon. >> josh brown?

>> they buy coventry. they had 4 million medicare and medicaid customers. >> you are along the trade. buy some puts. no reason to get out of it. >> got to drop here for moodies. up 20 2%. >> announced today that the company is going to have to face a fraud claim. you have to think this is the first of many. >> you are never too old to live your dreams. get acquitted on federal charges and then live your dreams again. he will pitch saturday with the

sue garland skeeters. he may be a little rusty but the 50-year-old still clocked an 87 mile per hour fast ball today at practice. >> wow. >> got a yankee hat on. >> pop here for southwest. >> they are putting through a rate increase to offset the rate of oil. i would take this pop and walk away. this stock has got serious resistan resistance. >> dropping you for radio shack. downle%. >> you already said it. this is about best buy.

there is no way radio shack is going get love. >> pop here for it. >> average sits at 33.97. gets above 33.97, put your stock and get in there. that's a name you want to be long. >> sflrks. >> the pair will be presented with their green club jackets this fall. historic day, truly.

>> really proud of them. that's fantastic. >> very proud of them. forget cash. the mobile wallet revolution is here. we are about to meet the man leading the charge up next. 5 tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-866-294-5411.

>> welcome back to fast money. mcdonald's is the latest to join the mobile payment revolution. launching a trial run in france. customers can order food through an app and pay through papal. what tuz this mean for you for the road ahead. starbucks signing the deal. from your perspective it doesn't make a difference what that interface is between the consumer and retailer. you just care about the number of transactions processed. >> what we're trying to do so we eyre a firm believer in creating open environments. so you can use your mastercard

with all the liability protections, the rewards and protections wherever you want. that was the design. and all the partners we work with. >> we do have a long list of partners which include square, google, paypal. have you been putting more behind one over the other? so we have been working with large retailers like barnes and noble and american airlines. >> are you finding that transactions have, in fact, gone up because of the increased use of mobile payments, specifically? >> i think what you are seeing

for consumers is they will find new ways or places to pay. it will give them a better experience in the payments they are doing and really the movement is away from cash and check. what i might normally use cash for i can tap into an application. if i am buying online. it is cash and check we see coming out of the system. over 85% of the world's transactions are still based in cash. the broad move. >> it's like a postage stamp. if you had not used it you would wonder why it existed. consumers are voting. they like tap and go convenience. >> walk us through a paper transaction versus a mobile transaction. is there a higher margin involved or just the number of trans5:00s that you want to see go up. >> what we are trying to focus on is the consumer experience

and everybody benefits from that. working with consumers to allow them to have tap and go. >> but investors want to know about the numbers. >> more volume on the network. benefits all of our clients. >> higher margin from digital to paper? >> the digital is a genuine mastercard transaction. consumer gets the same benefits. >> we appreciate your time. the chief emerging payments offer at mastercard. i want to send it over to you. you have been in the space. i am wondering how you are playing it. >> we have been short recently. i thought that the starbucks announcement was critical in that -- it should highlight that the verifone business model is under attack. we will see a lot of ways to do electronic mobile payments.

charging $600 for the swipe machines, that is a system we won't see two or three years from now. i like to be short business models that are in a stake of flux. >> where they have the swipe thing at every store. it seems unassailable until you realize there is serious venture backing. they see it as lunch meat. one of the things we are trying to do is avoid the infrastructure movement. >> i think you have to be somewhat concerned. you are talking about a $670 billion industry. obviously that is a problem for

mastercard and visa themselves. i think when you look at what the right trade may be it's wide open at this point. that takes you to nxpi, which i am long. i think you have to look at the security and software type of names. get a lot of m & a. >> agree with that. long. which right where you want to be. >> moving on here. the ecb calling it a report. causing the gains against the dollar today. joining us to discuss this. the editor of the gartman letter.

i'm sure that you were there on sunday reading the magazine, reading this report yourself. it did sound like a trial balloon float. >> well, actually, i was reading it over the weekend. i didn't get to play golf. i thought. >> no matter who you are talking about or what, you get conflicting reports almost every other hour. they will cap rates. they are not talking about the ecb will have a universal unlimited amount of bond buying. >> perhaps it's time to say. >> just stay out of the euro

trade entirely. i am asking this especially because they are coming up on a series of meetings. it is expected that something will happen. >> well, there is also something that shall happen. it's a matter of what does happen. we have got the -- on the 12th, a very important day to remember. we have two big events taking place. we have the decision by the german national court as to whether there is a reality to the european monetary union. the court will find that in favor of that. you also have an election in holland in the netherlands. go to the sidelines, go play

golf, enjoy yourself. >> should you also step aside from the long markets. >> if the euro stalls and you are inclined to get out of the euro entirely do you think it is the same with equities? >> i try not to make that decision. i'm not smart enough. what i am looking at is the fact that spanish bond yields, the euro, u.s. stocks, being a leading sector, all of these things seem to be tied together. i will try to be on one of the parts of the equation. >> stay with financials, sta

with technology. you don't have to worry about what is going on. >> a rally in a sector you might not expect. a tech ipo is that is soaring but is it worth buying? [ male announcer ] let's say you need to take care of legal matters.

wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old and combined it with modern technology. together you get quality services on your terms, with total customer support. legalzoom documents have been accepted in all 50 states, and they're backed by a 100% satisfaction guarantee. so go to legalzoom.com today and see for yourself. it's law that just makes sense.

to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha!

and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. people with a machine.

what ? customers didn't like it. so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsense. just people sense. to dabble with the idea of hybrid technology, it's already engrained in our dna. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection.

>> so many recent tech ipos turning out to be lackluster, where can you look to find returns on the space? the talent management company is up more than 80% in the past year alone. joining us now is adam miller. adam, great to speak with you. >> thank you for having me. >> got to address the consolidation. your two top competitors were bought by larger companies. to you have any advantage being a smaller player or is it just more difficult to compete? >> we think we have a huge advantage being the largest best of breed player in our space. we are innovating faster. we have more focus on software that is helping companies to recruit, train, and manage their

employees. and we have the -- a large opportunity ahead of us in a green field of space. >> so when you look at this, can you directly say that the billings performance was up 21%. that is a direct result of the competition? >> the billings were up 51% against a 90% yooefr comparison. we see a tremendous opportunity to keep selling what we do to all segments of the market. we are working with large corporations. >> and you have actually been expanding your operations. you have been hiring a lot of people and that speaks to what you see for the future of your business. what are your plans on hiring

this year? >> we have been consistently hiring all year and we will continue to do that through next year. we established a pace in our business of growing quickly. we have had a 60% plus compounded annual growth rate over the last years and that pace is continuing so we are seeing the opportunity. >> thank you so much for your time. >> this is a name you are very flar with. >> the entire space is absolu absolutely on fire whether it be the cost of the purchase. there is names throughout the space. ultimate software. that is a name that has performed very well. a name you could own here. clearly when you look at corner stone it is a name that you can continue to own. they had a significant pull off that one day but that was a sell-off that was quickly bought. >> we got your first move tomorrow when we come right back. stay tuned. if you are one of the millions of men

who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer,

and women who are, or may become pregnant or are breast feeding should not use androgel. serious side effects include worsening of an enlarged prostate, possible increased risk of prostate cancer, lower sperm count, swelling of ankles, feet, or body, enlarged or painful breasts, problems breathing during sleep, and blood clots in the legs. tell your doctor about your medical conditions and medications, especially insulin, corticosteroids, or medicines to decrease blood clotting. talk to your doctor today about androgel 1.62% so you can use less gel. log on now to androgeloffer.com and you could pay as little as ten dollars a month for androgel 1.62%. what are you waiting for? this is big news.

>> final trade, it's the trade of the day. snapping an 11 year down