on and said there was no way she would survive today. >> it does make it interest. whether it's okay or not, everyone is going to click it and watch the video 100 times and we want to see what they're doing. >> i have not watched the video. i'm sorry we showed it. it is the responsibility we all must share. "fast money" coming up now. of to you melissa lee. >> here in new york city's times square. our traders are tim, dan, karen and guy. and we have also got the always spicy bank analyst mike mayo here in the studio. big brother banking coming up. we start with where is the growth. the momentum names falling back to earth. small cap stocks. where should investors look

right now. >> i think some of these big cap industrial names, i think there is growth there. and the stocks i think still have some room. largely in part because i think people associate ge capital with general electric. honey well has been a monster and a name like boeing which a lot of people don't think in this same category has done everything right. every time it trades down to the high teens, it bounces. all three of those stocks look interesting. >> do we need to be a believer that there is u.s. growth economically. worldwide in order to believe in industrials? >> yeah, i think you do. >> you want to short small caps at the same time. that's what i don't get. >> there's a rotation on valuation. i think small caps at 60 times earning should be sold. if you look at european pmis we

had a composite pmi last week. i'm not telling you europe is going gang-busters. we don't need china to print 55 on their pmi. what we do need is some recovery in global miners. fedex, if you hear what they're saying, allah alibaba. there is growth in transports. >> i agree with tim for two reasons. to help the earnings grow. but the market will respond negatively. i think you need growth to underscore. >> you also need huge addressable markets. when you think -- everyone wants to talk about alibaba, but think about just the uptake of internet usage in a place like china when they have over a

billion people. on an evaluation basis, if china actually levels off somewhere at 7% growth for a long time, that's going to be a good market to invest in. but you have been very negative on text in this country. i think growth is there. >> think about celgene, it's not conditioned on whether or not we have economic growth one way or another. this is a cheap stock that if you get these things right with the certain product cycles they have, that's where you probably want to be in -- i deem it to be kind of defensive also. >> we mentioned iwm. you were looking at some levels at which to put a short on. >> we said don't fade the rally if it holds that 107.5, 108 level. which it did. it has rallied of the last couple days. tim is probably going to be right at a certain point.

my point is if it doesn't break that 107 level that's not the time to cover. that's the time to step on the gas and sort of add to that short position. i'm more inclined to bait fwaitt to break than lay into it. both of those -- >> i think -- i'm not laying into it at all. especially because i talked about the correlations i have seen to that and merging markets that are higher. i think it's a great time. i think volatility is extremely cheap and i think the russell could be sold. i took the opportunity of 3% over a couple days and threw more out there are. i sold some ewg. it's a way to play it. european markets, people are blind to the fact that the you r -- euro is a bit of a drag on

today's economy. >> i think this was a gift the market was giving me. selling around historic highs. i sold my amazon, bank of america, my abercrombie and my hewlett packard and wound up lick question dating my call come as well. >> why today? >> yesterday they bought everything across the board. i don't know if they had any conviction whether it was buying back the bubble stocks, buying the value stocks. for me, i think i would rather lock in. if i'm right, i buy 1800 and below. >> so you're sitting on cash right now. would you be looking to enter the same positions but at lower levels or looking elsewhere? >> bank of america, i love the stock long term. but as far as -- it's lost its momentum coming outs of a stress test. i will tell you and i know we

talk about mo-mo names. if we look at tesla, the way it bounced off that 200 day, that was pretty impressive to me. oddly enough, i held my twitter trade. >> steve, thanks for phoning in. steve grasso selling a lot of positions in today's action. did he make the right move? >> the abercrombie and fitch is interesting. we pushed down the levels we last saw in the middle of 2012. it bounced. they have thrown everything possible at the stock for good reason. it's finally starting to catch a bounce. in this realm of m & a activity we have seen and i don't know anything in terms of an ber contr -- abercrombie and fitch. i would be inclined to stay with them especially with the amount of short interest in the name. >> all three stocks are down

more than 20% after big gains last year. our guest says the selloff has the perfect opportunity to snap up these new-timers. is it simply because these companies, these stocks are cheaper, the big cap guys are going to step? >> i view it as it's a bipolar tech mark. you have ibm growing at 1%, 2%. i think it's a golden opportunity to see m & a and you're going to see a surge over the next three to six months. >> you have got three matchups. let's get to them. ibm and splunk. what's going to push splunk into ibm's arms? >> ibm needs data.

we're seeing more and more spending for enterprises in this area. splunk is lebron james data. ibm for splunk makes the best sense. that stock has had the natural split over the last two months. >> sap which has been an under performer is getting a sole ceo in the next month or so. you say tableau? >> yeah. looking for water and growth and they can't find any. that's where i think m & a comes in. tableau, they have been an inquisitive company. they have more cash in some countries. i can see them looking at tableau. >> and microsoft and imperva? >> microsoft and it's really

keeping up the cloud. you need security around the cloud. imperva is a natural fit here. i think it's one thing like cyber security is a big issue for more enterprise. they move to the cloud. that's where nadell is sort of front and center. i see microsoft making a security acquisition. >> as long as i have been doing this when you see these stories get cut like you have noticed, you have never seen the m & a. never been that opportunistic in the past. splunk had a $10 million market cap. you're going to shave to see a massive 30, 40 to sell the company. i just don't see it for a company like this. >> history is obviously -- these

guys are more disciplined. i view this differently. you have areas growing 40%, 50% in terms of cyber security. the rest of the guys looking at 1%, 2% growth. i view this as a narrow window of opportunity. one m & a deal could change the pace here. i view ibm as taking an acquisition. >> splunk, tableau and imperva, are you advising people to buy these? >> yeah. look. i would have my grandma buying these names and putting them away for a year. >> you would have your grandmother? >> yes. i viewed these as 15 years doing it as a unique opportunity to own big data, cyber security cloud. it's a downdraft and been

frustrating and head scratching. i think we're going to look back and i think this is a golden opportunity to buy the winners in these spaces. >> all right. dan, thanks for joining us. if it's safe enough for grandma -- >> yeah, big time money fan. >> is that for you, guy adami? >> this stuff was a $65 stock a couple weeks ago. trading $20 now. i would have no idea what microsoft would have to pay for these guys. just on a flier, if grandma, if it's good enough for her, it's good enough for me. >> we're going to talk about coke later. i think that makes sense. if you talk about splunk. you're talking about sap for example. we know they have gone through painful management changes. but why overpay at this time when people questions the business models? danny brought up other times when we have been at the peak of

cycles. the reason guys were paying at the top was because people believed there was a limited number of the commodities out there. that was proven wrong. i just don't see that right here. >> even grandma could buy these names for a year. i don't know. >> that's the -- >> a lot of interesting combinations. be sure to log on to cnbc.com after the show to find out dan's other top tech ideas. let's get an earnings alert on fossil moving in the after-hours session. >> check out fossil moveniing lower. better than expected first quarter earnings but the company did issue a second quarter below street expectations. that stock down nearly 5% in the after-hours. >> thanks for that. fossil? >> that's not great. i don't own fossil. i was thinking we would get a first quarter where maybe it wasn't great. everything blamed the weather.

i really hope that's not a proxy for tomorrow. we have macy's reporting. >> coming up next, big brother banking. top analyst says that is the era we are living in. one financial firm reworked its business model to stand out from the rest. plus, walmart reports its earnings later this week. next on "fast." who would have thought three cheese lasagna would go with chocolate cake and ceviche? the same guy who thought that small caps and bond funds would go with a merging markets. it's a masterpiece. thanks. clearly you are type e. you made it phil. welcome home. now what's our strategy with the fondue? diversifying your portfolio? e*trade gives you the tools and resources to get it right. are you type e*?

. ibm holding its annual meeting tomorrow. kicking off our trades tonight. exclusive interview ahead of tomorrow's meeting. take a look at what she said about increasing shareholder value. >> we have not cut it back. everybody has maintained because we're a innovation company. we don't cut it back. r & d and acquisitions, $133 billion and we do dividend and share repurchase. as we return value to them, those are important mechanisms

and we have got a lot of long term shareholders. >> they could have said this every single year and revenue growth is down single digits at this point and financial engineering is the only way they have beaten eps. >> the last four, five quarters have been lousy and it has been financially engineered. that, and the fact that buffett is in the name has helped. a lot of people are cycling into the big cap tech names has helped get the stock to 192. but for that, this is $175 stock. growth continue to wane each quarter. >> it's like steering the titanic. >> that q4 was down 15% year over year. this could be just the start of something. when you hear the new ceo say they at the heart of innovation, how does that ring true?

i mean that would be innovative way to use their cash rather than buy back stock. >> coca-cola racing its stake in the name from 10% to 16%. coke originally acquired back in february is exercising options to buy additional shares. tim. >> green mountain at that time went from 80 to 120. on some level coke was awarded on the spot. they agreed they won't buy more than 16%. what this does for coke -- i own coke without this. i think people have overdown the -- i think just on valuation this is a stock you own. i think coke is positioning themselves into the at-home cold and hot beverage market is something that at least some analysts worked kind of 20 years ago in the pc markets. in green mountain, 320 patents,

this is a company into the technology and not a bad partner. i think this make as lot of sense. >> does this validate soda stream or is it in trouble? >> well, the stock went from 33 up to 45 and then 41 now. i think there's a player out there for soda. this could be a disastrous quarter. this could be a $37 stock when you wake up tomorrow. >> did you say your own call was a great call? >> no i didn't. >> yeah, you did. >> when green mountain originally came out. >> i mean, i'm all -- >> it was a good call. >> i'm splunked. >> morgan stanley holding its annual meeting today. today investors approve the

compensation plan. bank analyst mike follows them among others. morgan stanley is his topic. big brother banking, what do you mean by that? why is morgan stanley's position the best. >> big brother banking is the environment we're in. the government is more involved in the affairs of banks than ever before. get who got the memo early? morgan stanley. they changed their business model more than any of the top ten banks. they're 1/2 wealth brokerage, whatever you want to call it. they rank number one year to date in mergers. >> when you look at their revenue stream versus a more typical bank, what multiple do you assign to those two different businesses? >> there are more conservative banks than morgan stanley.

in the last five years they revamped their business. the other side of the company, the traditional investment bank, they eliminated the proprietary trading. prime brokerage is back where it was several years ago. you know, if you just take the wealth management side, you have pure plays there that can trade at 12, 14 times pe. if you look at tangible book value, they traded almost above tangible book value. >> who is now going to be even more under the thumb and have regulatory pressure and do you agree that ubs has followed the morgan stanley model? >> ubs was early in getting the memo from regulators. we saw barclay's. better late than never. citigroup has gone some of the way. bank of america, i want them to

do more. i was at their meeting last week. >> they have more regulatory pressure coming? >> i think this regulatory pressure, you have it in different ways. you have the regulatory find. you saw eric holder come out saying banks are not too big to prosecute. we'll see what happens there. and you have the ongoing regulatory pressure for the biggest banks. you saw the new york times magazine on tim geithner this past weekend. banks was listed 19 times. congress likes to talk about banks. we're talking about the six largest banks are 71% of the industry's assets. their first names are james, jamie, john, lloyd, chad and mike. so really if we're talking about banks, we're talking about six people at the top of these firms. we want them to run their banks differently. let's tell them what to do as opposed to talking about vague generalities. >> you gave us the name you did

not like the most, and that was bank of new york, right? >> we talked about bank of new york and i had issues with. i was at their meet. >> what happened to that? are you in the bear camp on that name? >> it's not -- i know you like -- it's not an outright big short here. it's like why bother with your time. they need to restructure and get the memo that morgan stanley has gotten, that ups got, investors are angry and saying this hasn't created shareholder value. it's time to dispose of some assets. until they do, we're on the sidelines. >> mike mayo of clsa. your top holding is? >> bank of america and citi. close. i have jpmorgan but it's the most expensive. >> why not morgan stanley? >> i have morgan stanley probably. i don't have a good answer to that. >> let's move on. walmart set to report earnings this thursday. will rising food costs increase in competition and spiking gas

prices hurt the retailers bottom line? dan says yes and tim says no. a street fight. and later on what does the future hold for the industry and virtual reality. >> looking forward to 25 years in the defense industry. it's going to be about simulating everything. including this. this is not a real bomb. we're going to talk about that next. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending.

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jane. >> as defense budgets shrink, it is boom time. they're being used to train for everything. >> there's an rpg up on the rooftop. >> playing war is getting more like the real thing. the military is increasingly relying on simulators for train. >> the cost of simulation is about 1/10 of what the cost of live training is. >> half of all the training at edglan air force base is being done with simulators. most believe the ratio of virtual to live will go higher. >> if you like, we can go up in the weapons bay. >> simulators are being used to teach maintenance. >> i'm confident that my 10-year-old could probably come in here and remove and replace a tire after going through this training. >> to save money, for the first time they created mockups so guys can practice loading and

unloading weapons without having to take the jets off the flight line. over the next quarter century simulators will become more portable and combine virtual reality with, well, reality to save money on live train. >> we're working on how do you put a pilot into the aircraft and his wing man in a simulator on the ground operating a but the pilot can't tell a difference and how do you have a constructer constructing air threats. just as they're up in the air and he doesn't know the difference. >> 3d is here. but john ram bow says this is not about making a great video game. the market is crowd-sourcing a simulator. and to get more special customers now selling simulators to boeing, jetliners. a defense contractor training

the air force of another country. about getting more revenue coming in while the pentagon cuts back. >> top gun wouldn't have been the same movie if it was shot with virtual reality, right? >> yeah. >> thank you. >> jane is the best. >> she is the best. >> two falls ago, we talked about the sector was underperforming with defense stocks. we said you best get in these names because defense spending is not going down. we have been right. lock eed mar on the. and look at boeing and they're not expensive valuation wise. they all trade in the low to mid teens. i think they have a long way to go on the upside. >> coming up, the ceo looking to change the face of the trucking industry. natural gas as a feel for the future. plus, christy is hosting an

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. i don't know what that is. >> it's the beasty boys. >> you don't even understand the beasties. >> we're talking about take-two. coming in far below the street's expectations. 2008 last trade. retail sales slowed sharply. what does this data mean for walmart. the world's largest retailer set to report first quarter earnings. tim is the bull, dan is the bear. 90 seconds sold to make the case. tim. >> the u.s. consumer is just fine. the problem with walmart is the top line has been sluggish. we also know there's margin pressure for a company lower in prices to compete.

so the bar, incredibly low. it's not bad for retailers. actually for these first quarter numbers there's a bigger number, and we're talking about 2% 3% not priced in. if you look at the big picture on walmart, it's all about e-commerce. this is a company about 19% of their shoppers in their stores are on e-commerce. versus the same shoppers in walmart, 51% shop on amazon. the upside is huge. only 2% of the sales come from online. amazon at 435 times earnings or walmart at 12 times is -- >> yeah. >> let me -- >> it's not -- >> they ultimately completed the growth path to that and it's working. >> you know, the risk to getting the online strategy correct is large. i would also say that the ability to pass through the food inflation is also a risk.

i would say that tim said that the expectations being low, i think if the company comes in at or below that, it's a risk to the stock. i'm going to make quick points. the technical setup is bad. the all time ieg is 8137. i think you probably see the mid 70s. >> no more comments. sorry. buzzer. >> that's a ridiculous statement. >> you're filibustering and then the buzzer goes. stop. karen, who won? >> i say tim won. i can't see as a risk to the down side. the question is long and short walmart. and i don't get being short. i don't get it. >> what is going on here? >> i mean, i don't like --

>> your gentle soul. >> i think they're both winners in my eyes. >> c'mon. stop it. >> one person gets the medal. >> the public votes. it's not about me. >> fine. actually i don't care what you say. tweet us at cnbc "fast mone money" #bull for tim and #bear for dan. walmart down 3%. >> obviously, we had trouble at 160 twice this year. it feels like it wants to trade down to the mid 40s. >> drop for direct tv down 1%. dan. >> well, the media is reporting there's going to be a $50 billion deal. at&t buying them. the stock had a $43 billion market cap. when you think about how big this deal is going to be, that's

a big discount. i wouldn't chase this one. >> weibo up 3%. tim. >> a lot of people that's better than expected. stocks moved 12%. for people thinking there's unbelievable competition, there's guys that is. i would stay in the name. >> lululemon up 1%, karen. >> i would not buy it with that being your thesis. if you believe in the turn around that would be a reason to buy it. i'm not long here. >> we got a pop for monster proof cities. officials in new york are so confident in their emergency response. they say the city could even survive godzilla. evacuation plans put in place after super storm sandy. this comes in advance of the newest godzilla film invading theaters this thursday.

radoncolous. >> who did he fight, timmy? >> that or blue oyster cult. >> let's move on here. shares of clean energy -- we've got serious business to talk about. clean energy fuel, jumping around 5% in today's session. the stock has been on a terreri announcing a new partnership with kroger foods. joining us is president and ceo of clean energy. good to see you. i want to get to the heart of it. there's been questions about your company as a growth story. it's hit some road bumps in this year. out of this past quarter's results what stood out to me as well as a lot of other investors on the street is that you cut 2014 cap x pretty severely by as much as 63%. is this an acknowledgment that

the lng model is not working compared to the cng model? >> you know, i think there's some confusion in the market on that. we are the largest in cng. it's going to be both. we're well positioned for both. we always -- i think we have had a history of going out and showing the market that we had -- typically we could spend a lot of money on capital. we pulled it back a bit. the big piece of it was i think it makes sense for us to look at a couple of plans we're going to do with ge and probably slip them a bit. we got tied up about 400 million gallons with ge. we will do them. but i'm not so sure you need to pull the trigger on them today. we could slip -- >> even if it's more cng, it doesn't matter.

>> it doesn't matter. >> is the profitability the same? >> cng margins are better than lng margins. if you have an urban environment, trucking less than 250 miles, cng is going to be hard to beat. lng is longer haul and we do both. >> i know there's a delay in the long haul trucking and that got resolved in october. how quickly are you seeing that adopted. is there financing for that market robust? >> that engine came out in august. we started fueling those vehicles four months later. they sold about 2,500 last year. looks like they'll double or better than that this year. what we really like what we're seeing is there's a big breath of fleets testing. they're testing a bit longer

than i would like. we're seeing nice breadth. it's pretty good growth. i look back and in 2008 in the trash business, right, there were no new trash trucks sold on natural gas. this last year was 63%. so the same things are going to happen on trucking because we're saving the truckers $1.50 a gallon. >> they look at the giga factory being built by tesla as potential competition. batteries could be preferable. when you take a look and ended 2013 with $700 million. when you look at that drawing done this as your debt levels go higher. your equity to debt ratio is going to be practically 200% by

2016. do you have enough cash? >> yeah, we do. what i said on the earnings call was well received. 23 million gallons gets you to adjust it out even positive. we have the cap x this year, about $40 million. so you have plenty of money. it's discretionary at this point. we're only building -- we're not speccing stations any longer. plenty money for this year, 2015 and out into 2016. the growth rate will be in good shape. we should be able to avail ourselves to more traditional markets. >> thanks for stopping by. clean energy. you're a shareholder. >> yeah. the long term story is fantastic. i think the delay is whether it's in the gas stations or the engines. when comings is driving the growth, you should feel pretty confident. this is one of the best

companies in the world. it's been frustrating to see slower growth and cap x but it's a name i'm going to stay with. >> cisco getting ready to report earnings tomorrow. plus, forget about the tech bubble. is an art market bubble in full effect? we'll tell you tonight. could be a huge test for the art world. much more "fast" straight ahead.

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> cisco with earnings after the bell tomorrow. dan is at the smart board. >> total volume was three times average daily volume with calls out numbering puts. the most active calls were the next week, may 23rd calls. 20,000 traded. a lot looked like they were sold. the stock is interesting. tomorrow night they report the company has had a series of misses over the last few quarters and gaps on earnings. the stock, if you look, on a one-year basis, $23 is in the middle of the 52-week range.

the implied move in the options market is only 4% versus the average over the last four quarters of 8%. this shows it. this is the price of options. not nearly as high as it's been over the last three quarters that it's disappointed at. the last chart which is not working, when you look at the big cap peers, intel, microsoft, all at 52-week highs, but for some reason cisco can't get out of its way. i think the stock has a potential to move greater. >> greater to the down side? >> i think if the company is able to beat and raise, i think you're going to see this stock up a lot quickly. pay playing catchup to some of the peers. on the downside i think we can see what you saw with ibm, if they miss and not so bad you could see that rotation into cisco. >> so you're not making a call? >> not right now. >> more options action every friday. check out the website.

cnbc.com. art buyers will be shelling out millions for some of history's priciest pieces. cnbc's mike frank will be there watching it happening. what are you watching for? it's going to be the big test of whether the market is getting overpriced. christy's expected to rack up a half billion. several over the $50 million mark. we're going to show you the big three starting with francis bacon. painted in 1984 estimated on more than $80 million. this was purchased ten years ago for $15 million. expected to go for more that $80 million tonight. now number two is probably going to be the mark rothko estimated at $60 million. that's actually a bargain. and coming in at three or four is a piece called "black fire."

estimate $50 million. do not adjust your screen. that's the picture. >> is that art, guy? >> of course, it's art. >> why are you laughing? >> the color, the contrast. >> it's great art because it's going to sell for more than $50 million. now, no contemporary art sale would be complete without andy warhol. expected to go for $50 million. i want to show you my favorite. it's a toy train. it's a "jim beam" toy train. discounted, $25 million to $35 million. that piece 10, 12 years ago sold for $5 million. if you look at what's flipping, the prices are amazing. and sothboy's posted a lost in the first quarter.

bacon and bourbon all tonight. >> traders and i have been getting ready to head to las veg vegas. we tell you what to expect after the break. ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade. wherever you are with the mobile trader app white chocolate loversividual. don't like dark chocolate. milk chocolate lovers don't necessarily like dark or white. before we couldn't really allow the consumer to customize their preferred chocolate. we needed the scalable cloud solution allowing them to see

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. "fast money" heading to las vegas for the annual conference. airing live tomorrow and thursday. let's bring in sky rich capital and trader and sky rich director of business development, kelly o'connor. very exciting time for you guys and for us. i want to kick it off with you, kelly. the conference every year is big. but what's difference this year is we have got a lot of more active investors out there. how does that influence the tenor of the conference this year? >> we're excited to be welcoming our 1,800 guests tonight and we have a great program lined up for the next three and a half days. one of our panel is the age of activism. it has some of the best

performing hedge fund managers on the panel. we have ed garden from trion. we have barry rosenstein from janet partners. and like our other panels, this panel is intended to be in realtime and move markets. we'll really, really excited about it. >> she does all the work, melissa. i had to bring her on tonight. >> well, we know that, anthony. >> all right. you knew that already. i just wanted to make sure the person doing the work got the credit tonight. >> thank you. >> from your perspective, anthony, it is big every year. what's going to be the highlight this year? >> we have got magic johnson. talk about timing. carl rove yesterday said that the possible presidential candidate hillary clinton has brain damage. we're going to be hearing those

guys over the next two days. she's done a good job at driving the editorial content and we're looking forward to you getting yourself out here, melissa. >> a bunch of us are going to be on the plane. we'll be touching down in sin city in about six hours or so. nine hours i should say. >> we've got kelly set up. a rock-roaring party. we expect you to be there. >> and you can do your panel in the morning. >> got to make the activist panel tomorrow morning though. >> we'll see you soon, guys. thanks a lot. >> take a look at our lineup. pretty big heavy hitters. roubini, pierce, novogratz. narula. this is going to be a great conference. we have got your first coming

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final trade. tim. >> bhp, get long. >> dan. >> not try to pick tops among puts. >> h & r you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and 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 friend, i'm just trying to make you money. my job is not just to coach, teach, but entertain. call me at 800-743-cnbc or if you want to, tweet m me @jimcramer. all-time highs always represent