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tv   Fast Money  CNBC  July 2, 2013 5:00pm-6:01pm EDT

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to end basically flat. same with the s&p 500. we had pretty good buying in the morning, selling in the afternoon and then a pretty good bounce toward the end. that will do it for closing bell. don't forget we'll be on a special time tomorrow. noon to 2:00 p.m. eastern. "fast money" begins right now. >> life from the nasdaq market in new york city's times square. i'm melissa lee. let's get right to the big story. financial strength, the big banks were the best performing sector of the second quarter but is it smart to stick with this trade. tim, a lot of analysts are joining the bullish people. >> at one point -- it's not
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cheap. i believe the financials are starting to achieve normalcy but you have to be careful with the volatility that happened in the first quarter. a lot of the em bond underwriting has dried up. if you look at where these guys made and lost money in the first quartser i don't think it will happen in the second quarter. that's not the issue right now. the earnings volatility i think is going to maybe take these guys to a place to rely on cost cutting to make money. that's not where you want to be. >> so your bottom line is don't jump into this trade. >> i wouldn't be jumping out a window. the jury is out. these guys are still proven innocent. >> today alone we had raymond james upgrading jp morgan.
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we had citigroup saying jp morgan might be positive on the up side. that makes me nervous. >> i'm most positive on jp morgan. >> i changed your mind? >> no. you got to go with what's working. that's working. everyone sees that. in a rising rate of environment who is the best bank? jp morgan, city. those are the banks everyone thinks are going to be the best. >> they're not necessarily the cheapest. >> they're not but you're going to go with momentum. i think the earnings power is probably not running out of gas. >> i agree with you but maybe the regional banks have some room to go. if you believe the economy is on the rise improving gradually -- >> and you do? >> i do. you're not going to see nim increases in improvement this quarter. you want to be buying them
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because i think by the fourth quarter and into 2014 you will see better nim and loan growth. the three rule that came out today for the banks with $250 billion in assets or below, the capital ratios -- the requirements were much more favorable for them. the capital ratios are going to improve in the second half of the year. focus on reorganizations like a key bank, focus on mnt bank which is about to close the hudson city deal and those kinds of things. >> what is your opportunity? if you believe that the economy is improving you're not buying for this quarter but you might be buying for the third and fourth quarter. what is the point? >> it's a pretty good surrogate for the overall feeling of where people think banks are going. they have been smashing puts. that is a bullish trade. it's not the same as if they're
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buying upside calls. i agree with tim and you, steph, that this is a hold. grasso is a little more bullish than the three of us but yonlt see a lot of downside for the big banks here. i see them sell puts because they're not afraid and we trade sideways, perhaps up. maybe we get what steven is hoping for but overall people aren't as fearful of these banks. >> the one thing that i got concerned about, i talked to a bunch of guys in senior positions and they say the funding for high yield is completely dried up. the revenues are completely dried up. i go back to emerging markets where i know these guys have stopped lending. i laugh at the rwanda ten year bond. this bond is 300 over where it began. this is the ultimate to me where people were running into a credit market. i think a lot of the banks have
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a lot of this paper on their books. i don't think they're going to be funding these things the say they were. i don't think the capital ratios are in jeopardy here and i thought people were going to start piling up. >> look at cni loans are up 12%. that's a pretty much leading indicator of consumer loans. that's the kind of company i'm looking for. >> even after june though? >> june stopped everything in its tracks. >> remember when morgan stanley had their bank financial conference -- actually bbt had pretty good things about loan growth. key bank was very conservative about loan growth but they're more profitable. in any event i think it's a company specific situation. >> i want to jump in here. look at the bottom of the screen here. s&p cuts racings on credit on barclays. that is the issue.
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>> i'm saying on deutsch because to me they have the biggest balance sheets to delever from. they're unwinding the emerging markets debt. deutsch i stay short. >> clock is as one of the top performing banks gaining more than 30% this year alone. our next guest was dead on behind the rally about a year ago right here on fast. take a listen. >> there's no reason the business should be trading at 50% of book if they can earn nine percent of equity. the stock should be trading at close to book which is like 27, $28 a share. we think there is a lot of upside room in morgan stanley once the fears of liquidity come out. >> let's bring in vice chairman of aerial investments. great call on morgan stanley. i stick buy it? >> yeah, obviously by that quote we're getting very close to where i thought the stock could go. we're about 25 today and we did
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think that tangible book which is around 25, 26 was a very good target. we think this business can trade for about 1.5 times tangible book. so that does mean it still has room to run, but it's not the fat pitch it was a year ago. a year ago it was crazy cheap. today there's risk in it. >> let's say you're in morgan stanley and you rode this thing to today. where else do you look? would you look at some of the regionals for instance because if you do as stephanie pointed out earlier in the discussion, you believe the dme is improving then you want to be where the loan growth is going to be leveraged? >> i still think that the investment banks are cheaper than the regional banks. goldman sachs the average regional is 1.4. they are trading ten times our future next year's earnings. the regional banks are more like 13, 14, 15.
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it's closer now but we still think the investment banks are cheaper than the regional banks. >> morgan stanley has been pinned with being the one with the most european exposure. are you still worried about that in case we start focusing more on the european scene? we started focusing on the fed but if we get back there again is that a for for them? >> the s&p has credit its ratings so there are concern about some of these european investment banks. >> it was all the concerns about greece, its ka. if they have bad headlines out of europe morgan stanley will be the name that goes down the most. their actual exposure to europe is not that big. their exposure to greece is trivial. it will trade badly but it won't affect them in the long term. >> what do they want to be when
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they grow up? are they a retail bank, the wealth management which i think is lower return business or do they want to be an institutional house? how do you see them getting improvement in roe when it's been suspect over the years in terms of their execution? >> great question. the answer is they want to be less of a trading firm. they want to be an elite investments bank in industries like technology. they are still a leading m and a house and now with smith barney they want to be a brokerage firm to the upper middle market, not the lower end, not the super high end but they have one of the best brokerage business and that is much less capital intensive. they're going to focus on investment banking. >> you said jp is far and away the leader. what is the biggest weakness for these guys and where is the time
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when you start to watch something? >> it's jamie diamond's mortality, that he's not going to be the ceo forever. the day he retires that stock is going to have a bad month. he put that firm in the leadership position. you've got to go back to the original jp morgan to a time when there was one banker, one bank that was so much out in front of everybody else. >> you're saying jamie dimon is akin to the original? >> the bank today. they're so much the leader ahead of anybody else. he happened to be my kick for the number one banker in the country. he's that good. >> charlie, great to speak with you. thanks for your time. big fan. lots of people on the street are fans of jp morgan at this point. anybody switched on the morgan stanley story here? >> i like the wealth management side of their business. they bought smith barney or
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citigroup out of that side of it. i like that going forward. over the next two and three quarters you're going to see big numbers. >> i don't see how they're going to get the roe improvement. you go with goldman sachs. >> i don't know why you need to do this here. i think these guys at one point one times tangible book. they are maybe not one and a half. why do you need to jump in here with the second quarter that's largely suspect. >> june auto sales spiking to prerescission levels. for all the detroits big three forbes say sales rose 14%. toyota seeing a gain of ten percent. at this point grasso what's the trade? >> ford is still the best in breed there. i would still be a buyer of ford. ford f series knocked the cover off the ball. what does that mean to productivity going forward? are people like john being ford f 150s?
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>> yes. >> are they really used as work trucks or have we changed and they're being used as family vehicles. that knocked the cover off the ball and i'm wondering if that's the leading indicator. >> pete bought a four door but he also has a ponytail. >> just to be clear, i do think that one of the things that grasso is on there -- >> i'm sorry to interrupt. breaking news out of egypt. >> jackie? >> we have a tweet from mohammed morsi, a quick translation of it from nabs news. this is not verbatim but president morsi confirms his adherence to the legitimate constitution and refusing any attempt to step away from the legitimacy and called on the armed forces to withdraw its ultimatum and refused foreign interference. the state tv was reporting that the president and the egyptian
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army -- egyptian presidential pals and the army would make a statement. we are potentially waiting for that. meantime this tweet from morsi coming out as of course the tensions in tahrir square continue into the evening hours. >> thank you jackie. keep us posted on that situation. as you can see the protestors out in full force. this is the third straight day of protest in tahrir square. there's a lot going on in other emerging markets, big moves that were being ignored today. the ba invest pap was down. >> they have a president who now is 30% approved ratings. if you look around the oil hot spots, in turkey, in the middle east it doesn't surprise me that we're starting to see a tighten of the brent spread which has not been this tight in a year and a half but ultimately again the pressure on oil prices with
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a commodity that universely i believe has really demand behind it, oil stays high and there's no reason why you remove the supply fears especially whether the suez canal is brought into question. >> what do you think in terms of the activity? >> today they sold out big puts that they had in july and bought out again in august. they sold the 39 puts in july and they bought the just in the money, i believe the 38 puts and sold the 33 puts setting up a $5 spread to the downside. in other words, they're thinking into august they want a pretty big bet that we keep going down. >> still ahead, don't look now but shares of apple are back in rally mode. with earnings around the kornger would the recent term be short term. plus the biggest moves today.
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>> let's get to our top trades for today. first up the consumer outperforming the market. a few high end retail names
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lighting up our radar screen today. steph, what are you looking at? >> the economy is getting better, jobs are better, homes sales but most importantly you have great consumer confidence number at cycle highs. i'm looking at companies that have company specific things happening to them. gap is in a huge restructuring. there's growth here in the united states and also internationally and from e-commerce. i'm also looking at phillip morris international. in the mid 80s i like that one too. >> next up apple. shares seeing a six percent gain since the start of this week. if you listen to steve grasso you could have cashed in. take a listen. >> right now apple is so out of favor but they still dominate so much. you've got to figure this things is going to bounce back. 390 for me was the level they had to flirt with. it did. now we start to rally our way
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back up to the 450 range. >> now what, grasso? >> there's a wall of resistance going up to 450. i get that but i think you're going to see momentum back in couple's camp. it's still worth a buy here. i still think you're okay buying apple. >> i've seen this from apple before where they have had good news coming to the market. if you are talking about the iwatch -- >> is that good news? >> especially for news that they received a copy right on it. tells me they're not close to releasing this. this is all stuff to gets to the stock. 440 it doesn't get through at least on this news. >> the momentum is in their favor. you're starting to talk about new products. whether or not they're going to move the needle, you're talking about new products, not new failures. >> it depends on what happens to gross margins from these products and we don't have any
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idea. >> the smart phone market is getting penetrating. >> 350 to 400, is that a low end phone? >> that's a high end phone in china which is where they want to go. >> i hear about the margins but we're all using iphones and entrenched in these products. >> i'm not. >> 90% of us. >> nokia, that's why i won that one. >> yeah, buddy. >> next trade, oil hitting 14-month highs as the tensions in egypt intensifies as we just showed you. let's get back to jackie on more on that. >> we're watching oil prices as a result of what we're seeing out of cairo. the question is how much political tensions are contributing to the increases we've seen. the iea estimating that 40% of
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trade flows through the suez canal. compare to that 20% of oil that travels through the streets and it puts it into perspective for you. how likely is a shutdown of that canal? not likely. oh, peck's declining forecast supporting the view that global demand is diminishing. and their reserve capacity is in good shape, too. it hasn't been this tight since jan of 2011 which creates there's less interest in brent, more demand for wti. the risk of a suez disruption is slim and there are improved buffers which appear to lirmt the upside for crude. the markets are not always
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rational and they don't want to be short going into this holiday. >> let's go deeper into the commodities theme here. interesting and opposeding calls. jpmorgan outlining ten ways to get out weight. this caught both of your attention in terms of the jpmorgan call? >> i saw it last night when people were not talking about commodities. first of all, he's a china bear, doesn't believe in the super cycle. he's saying we've weathered seasonal effects that we are through. it may be early but it's a brave call. i have to say it's something to me in a few of the commodities like oil, copper, not in or, i think you can make the call. >> the prices have come down enough to start to stimulate
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demand. on top of that you have global easing. you do have easy policy around the world. eventually that's going to stimulate demand and higher prices. but you have to believe that china is not going to hand land. that's the key. i'm of the opinion that they're not, they're going to be able to grow 7, 7.5% this year and maybe acceleration next year. >> which commodities do you go in and buy? >> i'm more nervous about oil because it hasn't come down as opposed to copper, iron or, i get that there's a lot of supply but a lot of that news is factored in. if you look at freeport, these things are trading another historical lows. i think you can pick at those, those are the names that i would be focused on. oil bothers me because the there is so much of it and the prices stay elevated. >> if oil stays elevated like it is that's definitely a headwind for the refineries but a tailwind for a name like swn
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when you look to e and ps. >> cog, one of my favorites, this one is more sell lus. it's one of the biggest in that sprays and i think they benefit from it. >> microsoft clocking in as one of the top performers in the dow in 2013 but could the x box one become the consumer product home run steve is looking for? dr. j. says yes. tim says no. it's a street fight coming your way. later on with gold trading low, could we see a dip. where he thinks the next stop is. i have low testosterone. there, i said it.
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>> microsoft one of the top performers in the dow this year. the software giant is sharpening functions and launching a store within a store. will this be enough to help the company stay relevant. we have a street fight. dr. j., the bull kick it off. >> tim, i'm not sure if you saw this this week but they signed a deal with time wafrner cable. why is that important? they're going to have 300 channels, everything you want on the x box an the b box live and gold subscription services. that's huge. then sprint is putting out ht and samsung phones with the microsoft operating system on there and all the other fun things that microsoft is doing, like they can do 3 d printing. who else does that?
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>> who cares. >> break out things going forward. >> these things are not moving the needle. people are excited about -- that's the point. this is a stock that's priced in a ton of good news. that's why they're buying microsoft. it's very good news. if you look at three to five years for these guys to become the largest cloud player, that's $10 billion in revenues which is 10 percent of their total revenues. that's not going to move the needle if they become number one in cloud. far fewer pcs, laptops, they are business model is changing. it doesn't mean the company is in a bad shape. after a big run in the stock, i don't think you need to buy it for x box. >> i didn't say that. >> the song tears of a clown, those are going to be yours.
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>> facebook on the operating system, that's huge. >> that is not moving the needle. >> stephanie, what do you say? >> i favor john. i don't know if i would necessarily buy at this price. i'm more bullish on the fact that they have done a good job of at least trying to discuss and explain that they want to build their ecosystem, get beyond pcs. cloud is a big market and that is why everyone is involved in it. >> look who is got the tears now, clown. >> the point is that actually -- >> hold on. hold on. let's go to the options market and see what they're saying in microsoft. >> how did i get to be the clown here? >> melissa, basically the options market is on dr. j.s side. throughout the day basically they're selling those for 35 cents. you're selling insurance.
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you're willing to get long microsoft at $30. to break even at $32.65. people want in on this stock. the fundamentals are great, cash flow is positive. the return is positive. i would be a buyer. i own it in my personal portfolio right now. i have to agree with dr. j. if there's a dip in the stock around the $33 level they're willing to go long on microsoft. >> again, it can't get through 35 -- >> did the buzzer ring, guy? hello? anyway, we want to know who you thought won street fight. tweet us at cnbc hashtag bull or bear. still ahead our traders are laying out their picks ahead of the holiday. we calculated some of the biggest movers and shakers. we are naming names right after this, stay tuned. [ indistinct shouting ]
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>> welcome back to "fast money." we are live at the nasdaq market
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site in new york city. time to hit our trades for the rest of the holiday week. jobless claims declined by 9,000. tim? >> adp is out tomorrow. ignore this at your own peril. seasonally 160,000 is the consensus. you have two fed meetings before september when a lot of people think they're begin tapering. expect it to be mildly weak. >> obviously friday with the jobs report, steve, how are you getting the sense that traders are positioning themselves since tomorrow is the last session? >> straight to east hampton. the whole problem is it could be extremely volatile because you're not going to have a lot of liquidity involved in the marketplace. guys playing it flat like tim said but expect a lot more weakness. >> next up the dxj rallying
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under two percent is the japan trade back in action? >> i still like it. down ten percent but the pull back is an opportunity. you have $1.4 trillion over the next two years in stimulus and i think that you have a lot of other things behind that are on the come in terms of further plan. the market trades at about 1.5 times book. that's actually cheaper than theist at 2.4 times. i think it's a good time to buy and more upside here. >> gold futures pulling back today after a two session rides. the metal could go less than $2. so 1,000. what's the time frame we're talking about? >> tough to say. we're heading to a period of ka
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pit lags selling. i was asked to give a downside target and anything can happen. >> walk us through, if you see gold possibly eventually going to 1,000 on the downside why do you favor the minor at the time? >> my suspicion is this a psych you lar decline in a bull market. similar to what we saw in 1975 and 67 -- 76 and then chg rallied for 650% over six years. gold is cyclical and volatile. i think you'll see both in these market. >> but in terms of the gold minor trade, rick, we've gotten so many headlines, saying that they could take a $5.5 billion for pass ka lum ma.
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these are coming because they have too bullish forecast in their models for the price of gold. why do you favor the minors at this point? >> some of the bad news has been factored? >> what is too cheap? is it too cheap on a price to book? is it valuation? where are we get k our met tricks? >> on a valuation basis. if you look at the streaming companies, franklin nevada, royal gold and silver wheaten and you schedule out the cash flows in particular discounted by today's very, very, very low interest rates, the price response to the cash flow that one would expect at these gold prices is very attractive particularly on a historic basis. it doesn't mean in the near term they can't get cheaper, but if you look at gold company shares in particular, the streaming companies on a 20-year basis, they're priced substantially below what marketing experiences
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have been over the last two decades. >> rick, finally, when i look at the minors here, the juniors seem to be most exposed. i'm scared of people looking at junior mine errs. a lot of these guys don't look like they can make it through this period. >> the junior sector is always a mess in good markets and bad. speculators need to understand that 80% of the sector is valueless and was back in 2010 when they liked it. that sort of disguises the fact that the top five or ten percent of the juniors for people who understand generate enough performance to add at least credibility and luster to the overall sector. >> rick, i'm sorry to interrupt. we have breaking news. we want to go to egypt. president morsi is making a statement on state tv. as you can see it's happening right there.
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we'll have the translation and all the details for you in just a few moments. as soon as we have that we'll bring it to you. president morsi making a live statement on state tv in egypt. after the break the traders are giving us their top all american stock picks ahead of the holiday. we're taking a look at a bearish call you made and now it's seen big gains since then. stick around. customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. wi drive a ford fusion. who is healthier, you or your car? i would say my car.
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>> breaking news here on the obama health care lull. let's go back to headquarters. >> treasury saying that it is going to delay -- the administration is going to delay the employer mandate of the affordable care act, known as obama care for one year. they have been getting a lot of lobbying and discussions with business groups who have all said that this is going to be very difficult to implement this in time for 2014. the gao last week said it was concerned about trying to get up the insurance and market places
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where people will go to buy their insurance. this afternoon the administration saying it's going to provide an additional year before they begin. first it's going to allow us to consider ways to simplify requirements and provide time to adapt to health coverage and reporting systems while employers move toward making coverage affordable. they're encouraging employers to provide coverage. we'll have more on this. >> steve grasso, take a look across the space, insurers, hmos, hospitals? where do you go first. >> the hmos reap the benefits of 30 million more people getting covered so it comes out of there but the bullishness should be equities because there's no more work arounds.
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>> let's switch gears. this is our final show before independence day. in the u.s. we're getting our top trades of the day. each generates the majority of the revenues in the usa. >> i like tyson chicken. i believe the chicken demand goes up. this is a cheap stock. these guys have room to grow even though they have been the largest players in the world and most of it is going on at home. watch for them to do a larger deal. these guys are the number one player along with enjoy in the e cigarette markets which is going to be a massive market. $800 billion cigarette market. they will grow, this will grow. they will be one of the leaders. i like the stock. >> is that really all american trade in terms of revenues from outside the u.s.? >> absolutely.
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this is mostly -- this is 80% u.s. >> stephanie? >> people don't go to costco to buy the chicken and the cigarettes. 72% of revenues are from the u.s. why i like it, it's the high end consumer. they have a defensible business model. 75% of revenues are recurring from membership fees. it's trading 17 times estimates. the range is about 13 to 34 times, right in the middle of the pack. they're going to post better and superior sales trends which they have been doing. i like hartford financial. it had a nice run but on a bad day i would pick this one up. the company is selling off assets and they're building their balance sheet. most importantly i think more capital distribution will come. they increase their buy back, raised the dividend last week and i think there's more to come. >> dr. j., eqt is another one of
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your picks? >> wells fargo and mro. >> sorry that was grasso. >> we'll get there. >> a little teaser. >> i like wells fargo because the housing play. we've talked about it over and over again. these guys are the most exposed of the majors to it. i think that's going to bode well for them throughout the year because i think the shock that people had in rates brings them in. i don't think we keep running to the upside in rates. cog, love that one and mro, marathon but not the refiner. this is the exploration and production side. >> grasso? >> a natural gas boom for the united states. what is going to benefit? eqt and cog like doc mentioned. they're around 52-week highs. they have room to move higher. >> time now for pops and drops. big movers of the session. linn energy down? >> they announced an informal
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inquire to to its merger. we warned you about this. once it came out in the headlines it was suspectible for the price action but the real winner is barry petroleum. >> drop for da vita health care. >> health and human services basically came out and said they're going to be reimbursing less, almost 10 percent less for dialysis. that hits them very hard but the stock did bounce about $3 off the premarket lows. i bought it and i'm holding it into tomorrow and i hope that works out. >> a pop for koels, a move two percent. >> i'm getting a lot of retail, aren't i? >> they're a boutique. they were positive on comp. things are running ahead of plan. this company is going through aggressive restructuring. it's starting to work. >> a drop for the ewz, tim? >> disaster.
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the president's popularity down. terrible production number and his empire is blowing up quickly. that is the reason people have been on the side lines of bra vil. >> a drop for andrew mason. getting dropped by groupon, andrew mason has dropped something of his own, an album which features songs about business, life and is appropriately titled hardly working. includes gems like the way to work and my door is always open, now available on itunes in time for july 4. >> i just got a groupon e-mail on this. >> coming up in the next hour of mad money cramer is getting a real on jobs. plus he's talking to the man behind the wheel at nascar to find out what the logos on the cars say about the speed of
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recovery. all that and more at the top of the hour. our viewer tweets on everything from high yield and high quality, where's trading your tweets rights after this. vo: i've always thought the best part about this country is that we get to create our future. you get to take ownership of the choices you make. the person you become. i've been around long enough to recognize the people who are out there owning it. the ones getting involved and staying engaged. they're not sitting by as their life unfolds. and they're not afraid to question the path they're on. because the one question they never want to ask is "how did i end up here?" i started schwab for those people. people who want to take ownership of their investments, like they do in every other aspect of their lives.
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>> not so fast, tim see more, our traders are quick but not always right. back in april tim was the bear in a heated street fight. take a listen. >> in the case of ba, the pattern is very full, the valuation is full at 17 times with earnings coming out. this 787 battery issue was probably a drag of 6 or $700 in terms of cash flow. >> the pattern is very full, the valuation is full. somebody else is full of something. >> this is top gun. top gun when you can break out a top gun quote, sometimes that's enough? . i'm not buying the stock. i was very wrong. >> you tweeted it, we trade it. this one is for tim. what is the safest space for my fixed income allocation, high yield or high quality? >> high quality. to me one of the great concerns
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is that we have coiled springs in the rates world. i joked about rwanda at 6 and 5 eighths. you have enormous convexity risk. play it safe. >> no one wants to pay for overnight anymore so ups or fedex. >> that's why fedex lowered numbers because it was their international business that they were seeing tradedown from. ups is more expensive on a relative valuation to fedex but i like their strategy, their platforms and they're much more consistent in terms of earnings profile. this is the one i would be buying. >> dr. j., what would you do with rhi ahead of friday's jobs report? >> i would do a pairs trade, buy this one and sell manpower.
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man has been clearly eating these guys lunch straight to the upside. if i had to trade it that's the way i would trade it. if i had to pick one of the two i would buy man. >> we have the latest out of cairo, stay tuned. (announcer) scottrade knows our clients trade
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and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it was a number. [ male announcer ] today, men with low t have androgel 1.62% testosterone gel. the #1 prescribed
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topical testosterone replacement therapy increases testosterone when used daily. 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. in a clinical study, over 80% of treated men had their t levels restored to normal. talk to your doctor about all your symptoms. get the blood tests. change your number. turn it up. androgel 1.62%.
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>> welcome back to "fast money." breaking news out of egypt. president mohammed morsi addressing his country on state tv. we have some of those headlines for you. just before midnight local time, morsi telling honest opposition that egypt belongs to all. he is not hungry for position, also saying that corruption, remnants of the old regime remain challenges for egypt. it takes time to address them. he said he's the first democratically elected leader of egypt. he also says he has no option but to carry out responsibilities given to him and he's urging egyptians not to attack the army, police or each other. you can see here clearly mohammed morsi seems to be digging his heels in this of course after we reported on a tweet.
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we had a translation of that. the president confirming before his speech his adherence to the constitution, refusing any attempt to step away from the legitimacy and calling on the armed forces to withdraw ultimatum and refuted forns interest appearance. his comments on tv backing up that position. >> thank you very much. i would imagine the scene in tahrir square similar to the tlongs of protesters. we are going on day four. meantime to our street fight, who won? dr. j. >> i was worried about dr. j.'s safety. i don't think he's stable enough to have taken a loss. >> around the horn final trade, tim? >> lore la, buy. >> i want a rematch.
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abercrombie & fitch. >> hewlett packard. >> no fast. we will be back here on friday at 5:00 as normal. don't go anywhere. mad money with jim cramer my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm trying to save you a little money. my job is not only to entertain you, but to educate you. call me at 1-800-743-cnbc. so what do you do with the seemingly terminal situations? oh, you know what i'm talking about. sounds

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