it stimulates the economy. because the people at minimum wage spend that money. they need that money. it goes right back into fwoogoo and services. that helps to stimulate the economy. >> jesse, we have got to cut you off. we are running out of time. >> i got to run, too, because we have got drones down here and they kill people who speak out against the u.s. government so i got to duck. >> "fast money" is coming up. melissa lee, what do you got? >> i'm going to take it. "fast money" starts right now. in new york city's times square. a solid day for the markets. well the s&p 500 seeing its longest winning streak since september. both the nasdaq and biotech industry swinging back. not only that, but the momentum barometer is back in play. take a look at the moves and the

following names since aprilish lows here. ibb, facebook and amazon up nicely. the question we ask tonight is are we back? guy adamidami? >> where were we? >> well the market -- >> did i miss the memo? is this like an oompa-loompa convention? sorry. >> trading opportunities are there. i know we talked about netflix and said the trading against that january low, that proved to be correct. i think you still stay netflix. amazon, for the first time in a while set up for an interesting trade. biotechs came back in a major way. so they have come back. i don't think it means anything for the broader market. i think some of the momentum names make sense. >> break down the momentum names

really hurt just market sentiment overall and we're catching a comeback, does it follow that the market could be on better footing? >> you would have thought that. except for this morning the market was flat to down. we had a reserve ratio cut for rural banks in china. we have had all the merger and a acquisition news from last night. i thought we would have been up 10 to 15 handles on the s&p mergers. i think it's got to be hard to have a sustained rally. if your walking up and saying i want to buy momentum names up 20%. i wouldn't do it. >> i don't think that the market has been broken and i don't think people who have felt the market was crashed are basing any way in reality. we have a expensive part of the market. the fact these names were selling off is very healthy to me.

so people that were buying these things and saying it was going higher and it could never stop and people selling the whole, this is where you have to be careful in these markets. if you look at where amazon is today, it traded right back up. look at sun power. look at the ibb. right back up. >> it's a push above that? >> what it is, it's very oversold in a two-week event. to say these things are back. in fact, you probably fade these moves. to be chasing these names on momentum. amazon has got to report tomorrow. the reason you own amazon, if anything, they're trading in a range that has been a fair price. >> you say we're not back. you say we're not back. guy. you're caution as well. >> a little cautious.

what i do look at and what does inform us and guide us in trading is the vicks. so i think we have a chart here. whatever the vicks gets down to 13 or a bit below, this is not a scientific chart. we have no chart at all. anyway, there's this amazing chart that tells you when the vicks gets up -- >> there it is. >> no. oh. >> yeah that's better. for us when it gets down to below 13, relatively inexpensive protection. i'm trading more around what our hedge is. >> back to momentum names though. >> yeah. >> you bought more fire eye. >> i did. this morning they came out and going to do a 13 share secondary offering. stock was administrating down 45.5. i i am basically throwing in the towel. when bad news comes out and good

pricing action, that's the sign. i'm under water on this trade and i will sell it at break even. >> there's another investor that wants out. are you are worried the capital table is more investors going to sell? >> very worried about that. i'm looking for a bounce to get out. >> why do you look for break-even? it's an irrelevant piece of information what your cost basis is. it's get your our ego back to whole. why does it matter? >> so when i say break even, that's what i have on my head. >> tesla is a great example. two, three days of a big run-up. it happened to be break even where i would have sold it. but i would have sold it in the hole up by two points. >> i think the point is and i think a lot of people are wondering the same thing. they rode the momentum names

down. you can use that money. sell out of that stock and put it elsewhere where the returns are greater than break-even. >> correct. i don't know what's going to happen tomorrow. i don't know if i'm going to get to break-even. i will say that but that's not hard and fast. >> the question is fire eye purely a momentum stock, it doesn't matter what the underlying business is or valuation? you're only making a call based on an -- >> i was in them because they were going to double what the market was going to do. i got caught flat foot and not i got to get out. >> there is another trader questioning and specifically the bounce we have seen in netflix on earnings. dan nathan joins us on the fast line. what did you do today? >> well, you know, listen, we laid this out over the last couple days. we talked about the setup into earnings. we thought the sentiment was

overly pest mistic. to me p i didn't like the setup heading into the earnings. we got a print at least q1 that was basically in line. i don't think there was anything dramatic there. people liked it. the stock popped 7% but traded at a tight range. it traded at an $8 range for most of the day. did close up 7%. i would say that he's pretty important. if i looked around and a lot of other internet names, there's a lot of stocks up 3%, 4%, 5%, 6%. i think it's about as good as it gets right here. i agree with tim what he was saying. i think there's going to be another wave of selling. i think they're going to -- investors are going to take a look at names and going to say valuation, things are a little extended here, i would rather be

indefensive. i bought the may 370 puts for $14. this is what i'm going to keep a tight leash on. it's not something that i think if the stock reacts favorably tomorrow and up 3%, 4%, i'll probably cut it. i like to take a shot and define my risk. think about chipotle on thursday. that's kind of what i'm playing for. >> thank you. a lot of commentary on the street including from netflix. still an under performed rating but -- is dan going to be right or wrong? >> i think wrong. i think it's going to continue this sort of -- we talked about it last night. forget about the price increase. i don't think that was a big deal. we had some analysts on that said they're not going to get the price increase because it's going to go to the comcast world. you made the point it's going to be a toll for them. i never thought it was about

that. i thought the quarter was excellent. their international growth is where i thought they signed. >> let's get back to biotechs here. after the bell, let's head to the breakdown. looks like two different sections in the trade for these stocks. >> we're seeing a tail of two biotechs here. amgen not looking good. but the story people are watching is gilead. more than double what analyst were looking for in the first quarter. the drug launched in december. we have analysts out there calling it an epic quarter on the call that i was just listening to, starting off by congratulating management on the best drug launch ever. this is a huge quarter for gilead. >> what is their guidance in terms of franchise as well? >> hiv is strong for them.

all of those big drugs are important for them and for those drugs, they have experience with reimbursement there. this was a big question on the call. how is reimbursement going to be working for hepatitis c. they're telling they're going to be able to use that experience in hcv. >> keep us posted. thanks for the update. in terms of gilead, even the most bullish estimates were $2 million. so it exceeded by a quarter of $1 billion. >> it's one of those things we talk about trades and investm t investmen investments. amgen surprises me though. that's a pretty lousy miss by them. i think you go on amgen as well. >> the thing we saw play out is the stronger -- they're stronger in their segments and pushing

harder. i think you stay in this trade. >> coming up, dick has a bone to pick on the shareholder meeting. later, the chart you've got to see to believe. hard core trading, stick around. back in two.

after after pilot's union voted to unionize kicking off our first top trade. >> i have been a bull on this stock a long time. it's gone over nine countless times. it doesn't want to hold. you have this wall street type. remember the movie, the first one, the pilots get together? it's right out of the movie. >> i think you ought to buy it here. >> blue star. >> jetblue, blue star. >> thank you. >> you were in the movie. >> no. >> she was like four when the movie came. you own jetblue. i think it's cheap and going to be momentum in the name.

i do like the space. jetblue to me is the beta trade. >> up next, tesla, the company planning on pour more money into china. >> spending money as fast as we can spend it without wasting it. we'll probably end up spending hundreds of thousands of dollars. >> so far he's done pretty well for himself. how you trade tesla at this point in time, if you're down on this name, as it approaches 2:30 i would start to lighten up. if you get a pop tomorrow morning, use that volume to protect yourself. i would be careful. >> does tesla have competition in china we're not thinking of, chinese company that is make cars that run on batteries that the chinese government will vote to support? >> i think they actually should

be looking to china or korea on the battery front. the company needs to be very careful. i wouldn't be buying the stock here. i wouldn't be -- i wouldn't go near the stock. competition from the global auto space is what these guys should worry about. >> sara is following yum brands. >> on the bottom line for yum brands. 87 cent as share. analysts were looking for 85 cents a share. revenues came in a little bit like most. $2.72 billion was the revenue number and analysts were looking for $2.8 billion. yum, they get more than 60% of their sales in china. up 9%. analysts were looking up 9.2%. pretty much on target. it looks like they're going to open 700 new restaurants in china. and the ceo of yum brands quoted

saying clearly on its way to a strong bounce back this year delivering first quarter earnings of 24%. that is a rebound from some of the troubles they had in china last year over the flu and chicken worries. headline up 9%. and that would be good news on the bottom line. >> sara, thanks for that. keep us posted on the conference call here. in terms of yum brands, the question is valuation. jpmorgan had an interesting switch today where they upgraded chipotle and downgraded yum. some of the parts $80 a share. that's exactly where yum is trading. >> i think i have been clear. i would much rather own mcdonald's at 18 times. i don't want to own cmg at 30 times. $80. 21 times next year.

i know mcdonald's out today also not very impressive top line. this is where i would be playing the global. i like starbucks. >> i asked you yesterday what would you rather. >> what did i say? >> you said yum. >> everything tim said is 100% correct. now yum, for a long time has taken itself into a new range. we'll see if it holds tomorrow. i think it will. i'll still play the game and stay with yum. mcdonald's has been a lagger. couldn't get out of its way on a decent tape. i think yum has momentum and mcdonald's has to do work. >> the conference call is tomorrow morning not today. my mistake. tomorrow. moving on to citi trading higher today. ceo reassuring shareholders they're cleaning up the suspected $400 million fraud. one analyst not buying it. let's bring in vice president of

equity research. great to see you as always. what aren't -- it's interesting because they also tried to explain why they didn't pass a c card. they weren't satisfied with that explanation either. is it citi didn't do a good job explaining what has happened? >> i think it goes back 20 years. if people want to think about this company over time, what you have had a six different ceo management teams running this company, each one had a tenure of maybe three years. basically each one of them had a different style of management. you know, all about silo management and sovereign debt. john reid fired everybody that ristan had and all about putting retail and technology. he says i don't like the retail strategy. what i want to do is build access cash. chuck prince comes in and saying

no we're not going to make big acquisitions. what we're going to do is get rid of silo management. then coming in saying he didn't think the prince approach was correct. korbac comes in and says what we're about is saving costs. all through this period this company is giving up its life insurance business. its casualty business. giving up its brokerage business and bank in germany and in turkey. it's giving up what it was doing with credit cards in england and brazil and joint ventures in india and saudi arabia and you can go on and on and on. of these ceos there were two really good. john reid and vick. the board fired both of them, fired chuck prince.

ruined the reputation. >> are you saying that's not a good ceo? >> i'm saying this company is poorly managed. if you were working for this company, you wouldn't know whether they were going to sell the division out from under you. you wouldn't know what direction that company was going. i think mike hmm corbat and michael neil must stay in place. they better stay there and better stay there for ten years. they better articulate a single strategy and execute on that strategy because that's something the citi group has not done for 20 years. it's a high risk company. >> it's karen. i'm bullish and long citi. one of the big knocks on the stock for several years has been unwieldy it is. this is too big for anyone to manage. all of the things you're talking about them divesting or selling, to me, actually seems beneficial to the story of trying to get

citi under control. i understand there's been change in the past. from right here, from where the strategy is right now and where the stock is right now versus what you think they can earn, that to me is all that matters. when i put those things together, i think they are getting their act together. i think we have seen that in citi holdings. with the valuation here at a relatively modest pe, it seems attractive to me. what about that do you disagree with? >> this company is an international bank. it's the most international bank of any bank in the world. it's not even a foreign bank like it. when i look around the world i see the latin american economy slowing down. i see citi getting out of certain businesses in brazil and argentina. it's no longer a retail bank visually anywhere in europe.

when i go to asia i see a situation where you have got riots in thailand and got to slow down an economy in china. if i go to the middle east, i see the whole area is up for grabs apparently politically and you have got the situation in the ukraine and -- >> but sorry to interrupt. to stop trades at seven times tangible book value. >> i keep hearing this question that oh, this stock sells a big discount to book value. i never hear the people say that say why the stock is selling at a big discount to book value and why the problem associated with selling at that disdown is going to go away. >> thanks for joining us. appreciate it. walk down memory lane there. i forget about all the ceos. i hadn't thought about them in a while. >> he makes a good point. if you look at the business

model and where these guys are in terms of their ability to grow, especially operating leverage, that's why the stock is a buy because a lot of this stuff a priced. >> coming up next, what apple's month in trade means for its earnings tomorrow. after the break, we're going straight to the source on valeant's huge bid to buy out allergan. stay tuned.

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valeant valeant pharmaceuticals and bill ackman offering to buy allergan with a $47 billion bid.

we sat down for an exclusive interview with one of valeant's shareholders. david. >> thanks. it's about 24 hours since we heard the very big news and that has played out today with allergan shares up 14% and valeant adding another 7%. that's a good day. which has been one of valeant's largest shareholders for eight years. in fact, they were there before mike pearson took over as ceo helping to formulate some of the strategy that has been followed by valeant as it has pursued aggressive acquisitions using a very low tax rate and strategy of taking r and d out of many of the companies it acquires. i ask what it is about the strategy that he likes and why it is, in fact, that his man, his partner, mason, is going to

be stepping off the board of valeant a position they have had for quite some time. here's what he said. >> there is an element where we have kind of originated with mike the strategy of rolling up to use your words consolidating a pharmaceutical industry where there was too much r and d with not enough return. we went at that. right. we brought the strategy, put it in place. executed the strategy. and after eight years, it's a little bit time to hand off to bill who bill ackman who came to us with a structure that was very tactically interesting to us. >> as you can see, eavon was involved. ending with -- i should say began with today's hostile bid from valeant along with mr. ackman who filed with his position in the stock last night. i did follow up that answer with

the question well, you're stepping off the board which will, of course, allow them to sell the stock. are you going to do that? he said no, we have no plans to sell the stock and he -- as mr. ackman did during his presentation listed all of the reasons he believes valeant is a very, very strong acquirer for allergan in terms of so many other things. we have got a long way to go on what should be an interesting fight here. but no down jeff eacon is taking an important seat. >> no plans to sell, huh, david? i'll believe it when i see it. >> i have a question. i'm sure you noticed or it was talked about that they missed the window to nominate directors what would have blood pressure a powerful move. what did they say about that? >> yeah. i mean, as you know, there's no chance for them to show up at the might meeting.

you can act -- i think it's 25% to call a special meeting, you need 50% throughout the board. i think they're going to rely more on the shareholder base of allergan and somebody who has played events for many years, you can tell me what you think about that in terms of that move up. you're talking about a stock that's close to 170 i think it is. and it's not clear a allergan is going to be able to rely on a third party to come in with a higher bid. in part, because a lot of the pharmaceutical industry can buy at low rates. that tax rate maybe goes up to 8% or 9% and that combination is tough to beat. of course, lining the businesses up in dermatology and ophthalmology the way they do also. they have got time to figure out their plan and how they want to fight because these guys can't show up at the meeting and force

anything to happen. >> david faber, we should note david will the talking to carl icahn. that is an interview you will not want to miss. and tomorrow on squak box we have bill ackman. a couple of big interviews. >> bill does a great presentation. >> yes. >> he is so smooth. >> did you see the slide with the potential targets and rollup targets for valgaen which would be the company. >> my point is that the kind of gain -- >> oh, smart. >> still ahead, we're hitting all angles on the turn around. up next, why the technicals on the chart for one biotech name. later, it's not just apple and amazon dominating the earnings headlines. big name reports on deck for the

likes of gm and starbuck's. that's still straight ahead.

call it a call it a case of the tuesdays. another day in the green today setting a strange trend. tuesdays in particular in the s&p 500 is more than 8 %. for all the days this year stocks are down around 6%. what? >> guy and i were listening two for tuesday. >> i remember wplj on long island. >> you have seen the entire year's gains. it does give you a sense of how we have reacted going into long weekends. i think it tells you about some of the nervousness in the markets and people have seen monday some decent news. but i think this trend is extraordinary and you cannot expect it to continue. >> did you notice this prior to this chart being unveiled? >> it has been talked about.

but tim eliminated it for me on "fast money." i think the one thing that tim said that's important is now that everybody knows about it, i'm not sure i would expect -- i think the trade is probably open. >> buy sector up in the past week. let's check the charts be mark, chief technical analyst at great execution partners. this is the question everybody wants to know the answer, which name looks good after having been beaten down over the past month? >> a lot of the sector had been hard hit mid april. a lot of these names are starting to stabilize and rally. you see stocks like giliad. biogen is one that i like. almost 1% per day into mid trial. so incredibly enough the stock

has stabilized. rallied about 12% over the last couple days. i think the stock has a lot of room to run. i'm looking for a move up to 325 in the near term which would be above 5%. into the summer i think it could get back up into the mid 360 range. >> i think if they report before the bell tomorrow, and biogen caught up in what happened. like giliad should be an $84 stock. i have a question. on the way down it was -- it didn't matter what drug you had, any of that. do you think that will matter on the way up? >> no. i don't think so. i think the entire space is starting to show signs of stabilizing. it had gone oversold.

it's important to differ rememb -- differentiate between the time frames. that might be an intermediate term concern. from a trading perspective it makes sense to buy really any pullback you're giving over the next week or so. in particular, with biogen reporting tomorrow. i think the stock still has up sight. >> what's the deal with apple? >> it didn't give fundamental reasons for why the stock has been range bound. that followed a period where the stock was up almost $200 from last summer to mid december and gone sideways. that's not bearish. if anything, it creates a better risk reward in my view to own these stocks versus some of the other high fliers. it's difficult to pin point bottoms like chipotle. a lot of people are saying apple

is still cheap. it still looks like a good risk reward in my opinion. the key level to watch is up near 543 to 549, that being former month live highs. it's position long in my view and thinking it's going to get over that area and move up to at least 570. any time you see a long period of consolidation following a up-move that still is constructive as to the continuation move back to the up-side. >> consolidation is not going to last longer. we have had cases of stocks that had extraordinarily long period of consolidation. not to do anything for a period of years, maybe a decade. >> you look at the entire tech sector to the s&p and i like to use s and h and you start to see signs of stabilization.

apple is a name everybody wants to know whether to buy it or own it. the market has been volatile and shaky of late. technically you're seeing a period of high or lows over the last few months. some people might way to the break out and say let's wait until it gets over 549. i say you own it here thinking the stocks should move over that level. >> quick on facebook, we have seen a nice bounce since the april lows or so. should we believe this bounce? i think in the short run, that can continue also. so the stock was down about 20%. it did break what a lot of technicians consider to be trend line support. the stock has held and created a pattern which i think is reverse head and shoulders bottom formation. it ran up to what i consider the neckline today. 63 to 64 area. any move over 63, 18 which are those prior high should allow that stock to get up to 67. in this case, a lot of these

names have lost a bit of momentum over the last month. that is a concern from july to october. looking over the next four to six weeks, facebook, in my opinion, should still move up. i like this pattern, particularly as it gets over 63 to 64. a any pullback tomorrow i would use to buy. >> mark, great to have you with us. >> thank you. >> would you be a buyer? >> not of facebook, no. it might -- >> of apple? >> of apple, potentially. the problem with the biotechs, i think the biotechs have certain areas that will going to do well. the problem is it's so far beyond what i know, getting through all the drug trials and knowing which ones are going to be right that i have to trade it with ibb and then you get a situation like amgen today where one does well and one doesn't do well. >> time for big movers of the

day. >> a great retailer. i think they have a g position. that's what moved the stock. >> drop for lexmark. >> earnings weren't so bad but it was the guidance. $40 seems to be a support but i would be a seller. >> down for phillips. >> eps was bad on this first quarter. interesting enough -- >> fast buyer yourself. >> you got to be -- i'm not just going to float by. remember? >> yeah. >> appreciate that. with that said, i was wrong. >> netflix. >> good, bad. almost these guys specifically last week saying all this activist stuff going on in europe should help these guys. bad call by me. >> big pop, conns, tims. >> a medium size position in

conns which is home appliances, lawn equipment. if david likes it, a lot of people want to like it, too and certainly did today. >> and a pop for great personalities. yesterday's beautiful bull dog pageant. all drooling over the chance to be crowned top dog. the event kicked off the drake relays for track and field hosted by the drake university's bull dog. >> it's an ugly dog. >> if you have got a dog -- if -- what would you get if you could buy one dog? >> i would buy probably like a golden retriever kind of dog. a sizeable. >> i'm not offending anybody but they're dopey dogs. like a shih tzu. >> kind of small. >> all right. xbox getting ready to take on netflix as it ramps up to release six tv shows.

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welcome back to "fast money." check out shares of shoe makes

sketcher after the company reporting sales and profits. the company's first quarter sales were working and of course made positive mention of the fact that boston marathon meb became the first american to win in over 30 years when wearing sketchers running shoes. now shares down 7% after the making of led products reported profits at top. and a range that was below some analyst's estimates. back over to you. >> you mean the opposite -- that was -- >> that guy has got soul. >> oh. >> the race, the original content heating up. john is the executive producer at mandalay media. he joins us live now. john, great to see you again.

>> thanks for having me. >> in terms of the lay of the land, it seems everybody out there now wants original content. is a great market for you or are you losing some price computation because they're saying we're raising prices as much as we can and we have got to maintain our margin, so we're only going to pay you x, y and z? >> i don't think anybody in the creative community whether it's a producer, writer, director, what have you ever is complaining when there are more buyers in the market. it's enormously exciting to be one of the zeseries on xbox and dream project of mine. a huge fan. nine episodes. around the world spotlighting. and i get to bring them together in brazil to create the first global street soccer team. >> i know you have this project on xbox and premiering soon. take a step back because you did a pilot for amazon on hold now. if you had to produce content

for one outlet, what is the holholy gray for you? >> tough question. luckily we're in a position, our company, where we're able to talk to all the buyers have great relationships. we going a documentary to a short form series which we're going to announce next week in new york to this x box project. so whether it's netflix or aol or yahoo or hbo, show time, we're in discussions with all of them. i think it would be crazy to see there's only one. >> i know you're not a stock trader. but the stock trading shows. which would you rather, the stock of a content producer and let's just say like a disney or the stock of netflix? which do you think is a better business at this point in time? >> i think when you talk about these two companies in particular, disney is a bigger

company and it's got a little more variation. huge theme parks to content. so they have got a little more product to work with. so they're not so dialed in on just subscription fees or having to buy content. what everyone is going for or the intentions of people like my kids, i have a son who is 6 and a son 5, where are they going to migrate to in the living room? what devices are they going to use and what platforms are they going to be loyal to? netflix has about 45 million users. then there's xbox and sony play station and the establishment cable players. whoever gets that share is going to be the winner. >> john, thanks for your time. appreciate it. john, mandalay sports entertainme entertainment. let's play. >> i love this game. >> i know you do. >> answer your own question.

>> i would much rather be on the content side of it. >> owning the content? >> absolutely. >> usually owning the last mile is a lot more attractive. i think the guys that can do both, i think disney a pretty good place. >> are even bigger games on the way. heading to the options next. i take prilosec otc each morning for my frequent heartburn. because you can't beat zero heartburn. woo hoo!

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[ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor.

get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. . groupon shares up 10% after getting killed earlier this year. traders think the lows might be behind us. mike is here from the nasdaq. >> we didn't see a whole lot of activity in the options market generally today. about 12% less than usual. we did see 1.5 times the average daily volume. one of the trades that sduk otut were sellers of the june 7th puts. they were selling those things for about 40 cents. that is where the stock bottomed

out. if you're selling, you're selling i'm willing to buy it at 7 bucks. >> would you go along with this trade? >> well, this is interesting because options would be more expensive about now. announcing earnings on the 6th of may. typically 17% percent moving. now it's only applying about 12.5% move. i'm usually in favor of put selling. i think it's a good strategy overall. the probability is usually in your favor when you do a trade like that. >> more options action ever friday. check out the website optionsaction.cnbc.com. coming up next. stay tuned. it's the get growing sale from adt.

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time time for the final trade. tim. >> i think citibank is a buy here. go get it. >> frank. >> still a spider monkey market. stay nimble. buy ctrl.

>> karen. >> sadly i had to sell a little bit of uri. we were hoping for 100 and 96 and change. >> facebook, big sales, i think you ought to buy jim cramer sta now. \s. my miss 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 just trying to make you money. my job is to better tain, coach and teach, so call me. or tweet me. leadership is a wonderful thing. today we saw leadership all