>> evan? >> jobs on friday, watch the bond market. >> i think pay attention to the real world, retail sales and real job growth. >> thank you so much for being here. fast money is coming up in just a few moments. >> regis philbin was here and david ryan hart of green light called him and offered him an internship. regis spent a day at his office. it might offer clues as to what david is looking into right now. >> over to you guys. >> thanks. "fast money" starts right now. in new york city's time squares. our traders are tim, steve, karen and guy. top stores. the ponds of the villain. fighting words against u.s. tech company from chinese state media. chinese newspaper the people's daily writing u.s. companies including apple, microsoft, google, facebook are

coordinating with the prison program to monitor china to resist the naked internet hegemony. we will draw up international regulations and strengthen technology safe guards but we will punish the villain. they have got someone who says this war of words could get bigger if both sides don't start talking. let's bring in research officer and tech analyst. we heard the chinese government is saying don't install windows 8 and the chinese banking systems may not be using ibm servers. anymore when will we see the impact play out? >> over the next four quarters. hardware tends to be more transaction nal and you can easily swap and pull. software and services are a lot stickier. it's difficult to say stop using your oracle database or long term services engagement you have been working on for a

number of years. what you have to think about is who is exposed here and it's the people'sly swappable and that would be the hardware companies. >> wrld you look for the first clues. would it be an ibm which could be swapped for a lenovo. >> when you think of the asset that is china has we requiwired world with networking technology. the first would be the network instra structure companies and companies like cisco would be the places you would see this first. after that you would see it again the sort of infrastructure companies, companies that would be like an emc or -- probably not an ibm as much. other infrastructure companies. >> stepping back and looking at this, what are they really hoping to accomplish? what is happening on a more

political -- >> it's all speculation at this point. from my perspective, this is really an obvious clue that the it world is leveling. it's a great leveling. you have to start thinking about the motivations of the emerging markets. used to be where you would dump yesterday's technology. now, really, you're talking about a market that demands leading edge products and demands those products to be, again, meeting their needs and their needs perceived or actual may be different. it means a different dialogue and sitting down with government agencies to have a dialogue about what the products can or can't do and what you can expect of them. >> there seems to be a disconnect of the way it's regarded on wall street and silicon valley. i was out last week talking to companies and all of them were very concerned about this. mark andreessen gave the obama administration a d minus in

terms of how it's handling the situation. they all say we're going to look back at 20 14 as this being a critical -- >> the reality is it's about outreach and communication. it's hard to say that over a very, very short period of time you could stop procuring or you could stop sourcing from a specific company. that's very, very difficult to do. and if you did stop from procuring from an assembler, you're probably still using intel and qualcomm and one of those guys within the actual components there. >> isn't this -- it's a war of words versus anything else? it's tit for tat going back and forth. we saw the snowden. we saw -- we accused their military five people of hacking into our software. isn't this a matter of escalating it higher and a sit-down to kind of defuse the

situation? >> yeah. it's like a cold war of tech. you start really throwing words at each other and everyone gets excited. but dialogue would go a long way toward really understanding how to get more participation from all the companies. >> i want to get a take away for people out there. you expect to see some sort of impact on market share when it comes to the hardware players. how will this play out? >> we would expect that you could see a short term effect but again, i think even that could be a stretch. when you look back on this year, this will not have been significant as it feels today. >> i mean, if you are -- if you don't like cisco, and 40% of its total revenues is in routers and situation, isn't this yet another reason to stay clear? >> i think cisco is tied into the emerging markets world.

i don't know if china is crucial. where as, with apple, different kind of hardware. listen to tim cook. their sales were up almost 30%. china's sales are huge for apple. you can't be in the business we're in without having a successful game plan in china. the other thing, in china, they have gone from -- they almost leap frogged into the mobile universe. so you know, when you look at the people that i think are the most vulnerable, the people in the pc based business. i think ibm has got problems in china. i don't think apple does. i think this is going after a weak obama administration in terms of their foreign policy. look at the western pacific. china is doing what they could get away with. and this is because they think they can and i think it's bigger than the technology sector. >> is it a pull back on its own? >> a combination. i think the pullback was in place after the last quarter.

we thought ibm was headed lower and it has. pulling ibm servers out of commercial banks in china i'm not sure that necessarily moves the needle or not for ibm. now fortunately for the stock, it has held that march low we made. i don't think it's going to hold much longer. i think we're going to push back to the february lows around the 175 level. with or without these head lines. but they clearly don't help. >> did their entanglement with the chinese investigation -- >> it was a direct market call. i saw a couple of weeks ago. i felt the market was getting topee. 30 or so points higher in the s&p cash than i thought we were going to top out at. >> the other part of the trade is you look at the solar space. heavy duty exposure by chinese firms to this market. coincidentally or not we have another announcement that ter

rivers are coming in higher and being slapped on chinese sale makers. there were 35% tariffs a couple years ago. but there's a lot of way that is we can go after this. chinese companies can be hurt here, too. think about somebody like microsoft. when was the last time it got paid 100 cents on the dollar? they have been getting ripped off in china forever. i think a lot of this is a war of words. >> let's take a look at the chart of the day. copper prices seeing the biggest drop in four weeks. warehousing practicing and this is leading to using copper as collateral in financing and if all of a sudden it's not allowed to be used as collateral, that unleashes copper into the market and lowers prices. >> this is the third largest port i think in china. it's not just iron ore using

them multiple times as a financing tool. i don't think it's particularly good. if it's happening at this port, it's happening at the largest port as well. it does not bode well for the price of metals. although you can make an argument that demand-wise copper should be higher, this might trump that in the short term. >> i think it's going to hold. i think copper demand is starting to pick up. this is about supply though. we have heard this story before. we have heard copper inventory stories in the last three, four years. i don't get concerned here. i care more about the producers and the guys that have minds online and guys maxing out and some of them are running into supply disruptions. >> still ahead, our fair story of the summer. hedge fund giant offered regis philbin an internship. regis spent the day at green

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i don't like the music. i have no control of the music. >> that's my wedding song. >> no. pandora kicking off our top trades. shares initially falling. looking to review longstanding rules. but the stock came back later on a financial times report that twitter may have considered acquiring pandora. >> you know, you're always going to be susceptible to these types of rumors. but every time we think pandora is going out of business, it doesn't and increases its market share. i don't know if i would rather be here or in twitter which i already am. how about twitter being taken out by yahoo after the alibaba deal and then they can take out pandora. what about that? is that a pipe dream? >> pipe dream.

>> pandora, every time you think it's going out of business, it continues to steal market share, i think you're safe. >> world cup rallies are a risky proposition. tim, you're already in. >> yeah. i don't think it's about the world cup. look at other parts of the foot ware and basketball a shoes up. i think this bodes well for the numbers coming out in the month. it's also about significant growth in apparel. when i look at nike, i look at their business, their ability to grow. these guys can push through on the low gistics side. 25 times with the kind of growth you're getting, this is one of the attractive mega caps out there. >> one of the worst performers in the s&p 500 hitting the lowest level since 2010.

joining us now is analyst. great to have you with us. >> thanks. >> what would be most concerning is your questioning the company company's ability to buy the companies buybacks. such as building a new headquarters. it won't have the ability to do that. are we looking for no more increases to the dividend? no more increases to the stock or looking for a retrenchment? >> i think you're losing a couple metrics for the investment. when you look at the balances it's about $800 million in cash. a majority is overseas and that's why you see atting 200 to the balance sheet. by our statements we think they're going to burn through $400 million more next year

domestically because it continues to struggle. the problem is that they probably won't be buying back stock. to your point, they have raised the dividend. i don't think they can raise it now. in order to finance it, they're going to have to lever up and use debt to do that. yeah, i think you have less ways to win for a business struggling fundamentally. >> let me ask you the business part of the business. what do you see happening? they seem to be in a free-fall. >> the market share losses are excacceleratin accelerating. they were comping down 21% last quarter. i think they're trying to go through a pretty radical turn around effort with a new designer and transition. the problem is the brand lost steam and the competition is absolutely fierce right now. you have michael coors and now

you have kate spade. the category is growing but the competition is growing faster. >> in terms of the winners of the market share, would you be buyers of those winners because those winners -- if you take a look at kate spade, 27 times earnings at this point. >> yeah. we like kate spade. it's one of our better ideas. the thing we like about kate is the operating margin and the immaturity of the brand. it's a 4% market share business that could double revenues and operating margins. coors is doing phenomenonly. i think you can see the skittishness that that's a risky proposition to buy a peak margin business. >> thanks for your time. coming just a couple weeks before its analyst investor day on june 19th.

no big deal. it hasn't had an analyst meeting in years. >> in years. >> what do you anticipate? >> we are long the june regular expiration june 40 puts. we're long those because a few things. they have the big analyst date. they have a new ceo. he is not new to coach but to the position. this is his first big outing. we think that it is very likely what we -- where they just reset the bar entirely. clearly this brand has been in trouble -- i mean everybody taking part of their share but everything seems to be going wrong. i think that's a chance for him to reset the bar lower. with all of these analysts coming out now, why today do they come out? just in the conspiracy, it makes me think that the company wants to talk it down. they want to talk their own stock down. i believe them. i hear them. whether or not they have said it, i still hear them.

i do think this is a brand that ultimately could be turned around but not by june 21st. a couple times we have seen it in guch chi but it is a very difficult endeavor. >> why 40 puts? when did you put this on? >> in the last few days. >> why not fathrther out of the money? >> i'm not worried -- >> why wouldn't you take advantage of buying cheaper volatility now? >> i don't know if it goes to 35. i don't know. those could end up being beater. that may be. we'll see in two weeks. >> all right. up next, it's been a rough ride for grosso. stock down over 20% in the past five days alone. is he ready to kick it to the curb? a trade update next.

plus david ian horn saying green light wanting to put regis philbin to work. regis did just that and he's here to give us the green light spoof a little later on. i want to do something with this day. i want to build something. create something. i'm only one in seven billion, but i know i can make a difference. i'm just asking for someone who believes in me. for over 200 years, citi's job has been to believe in people and their ideas.

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another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. let's get a trade update. on vlovis. it could see some upside here. clovis getting hammered this week after disclosing the company's cancer treatment had forced some patients to go on insulin. >> we have had about three patients.

who when this first emerged we weren't sure how to treat it and they did go on insulin. but we do not cause diabetes. we have a great portfolio and secure in what we're doing. >> dropping more than 20% in the past week. downgrading the stock to a neutral from a buy. he also said that there was data that astrazeneca's competing drug was cleaner and didn't have the side effects that the clovis drug had. >> the reason why i got on the trade was we actually asked dr. webber what the next possible intercept was. that was the astronomical returns in the stock market. i bought the stock and it came in roughly 30%. the problem is i held it. which is okay. it traded up 50%. here's the bigger problem. when it came back in, it traded down 50% again.

i figured this is the way biotech stocks trade. i figured i would ride it out. you can't use the same risk tolerance that you have with anything else. it's not a walmart. for me, i'm still holding it. i think at this point i'm looking at it technically but it doesn't matter at this point. it's broken down completely. so i'm going to hold this trade for another six to the down side or 20 to the upside. >> along the course of this trade, you had questioned dr. webber as the stock was going down. >> yeah. for me, if you have a price target of 109 originally and then things change and the stock falls, how does -- how you wait to below your new price target to stand up for the stock? if you believe it's worth $42, you had 40 points to tell the worth it was worth that. >> let's bring in people who can

answer that question. dr. werber. thanks for being on. >> thanks for havingny. >> so how come you didn't address your price target as the stock was dropping? >> we have been fairly visible on this name talking about where we think the stock can go and the fundmentings. the reason we downgrade is we found out astrazeneca had a much clearer profile. we have been doing a lot of work on it and there was questions about whether it had toxicity on its own. we found out that zen ka's profile is fairly clean. but the shocker is zenka has moved ahead of clovis. before zenka was supposed to be six months behind. now it looks like they're three months ahead of clovis. >> is there a shot to get off of the price target here or there,

that clovis does beat astrazeneca to market being though this is a breakthrough drug on both parts? >> if you look -- both drugs are really good. zenka's drugs doesn't have side effects. it causes increase in blood sugar and changes the conduction in the heart. zenka is going to file in the first quarter of next year, they have been able to enroll a lot more patients than clovis. we're talking about coming to the market second with a profile not clearly safe. there's also another drug that they have which is ovarian cancer. astrazeneca has gotten ahead of that drug, too. there is residual value here. >> so they have about $300 million i think. you probably know better than me. they probably burned $20 million

or so a quarter. so at this price given this plush, i know what your price target is. i think it's 53. does this feel like a temporary -- i'm not asking you to be a stock trader. it feels like that was the flush in the last couple days. >> yeah. listen, what we have seen, it was really based on if you look at the next 6 to 12 months there's not a lot of catalysts going for clovis. it really changes the dynamic. these are sentiment driven stocks. always hope for m & a sooner than later. we don't think anybody is going to buy now. selling it at these level is probably not what you want to do. there's no catalyst. and that's the issue as we go into the summer months for the sector. if you can hold it for the next year or so, we have a $53 target

price. >> we have seen the ibb go from 211 to where it is now which is 243 and change. what is the name that still has up side from here? >> i think motivation. that continues to be our topic. they have a cancer compound for prostate cancer. we think they're going to beat numbers and launch into an earlier stage market in september. they're launching globally and have data later on this year. so that's our topic. >> thanks for your time. >> thank you. >> all your questions answered? still going to hold on? >> i'm still going to hold on but now for the bounce. his price target is where i come up with my bounce is the 5 2 -- $52 range. i feel like the upside is the risk at this point. >> coming up, will draghi cut

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tomorrow's european central bank meeting could send shockwaves throughout the market. if he doesn't make a move, what happens to the market tomorrow? tim, what do you think? >> the expectations were so high, as we got into friday people saying it's headed up for a disappointment. putting more pressure on these guys to do something more extreme. people expected to be disappointed. i think you could see some follow through tomorrow. it's not just the ecb. the banks of japan. it disappoints as you play emerging. i would be long the eem. the merging is getting strength out of stronger u.s. economy and china being less bad. >> is there chance we go

negative rates? >> yeah. >> what does that say though? what statement does that make? >> how much of a catalyst is that going to be if they're not lending now. we have dabbled in this before very small amounts in europe and it's worked and sometimes it hasn't. i don't know if that's going to be enough of a catalyst. >> big movers of the day. drop for fuelcell down 8%. >> as you look at the second half of the year they say they're going to meet their target. but today a blood bath. >> pop for general motors. >> big numbers yesterday. but tomorrow we will hear from their own investigation. an important day for them. i like it here. we're long. >> pop for medtronic.

>> the headlines -- kind of get a more advantageous tax rate. up 10% year to date. pretty safe place to put your money. i would wait until the stock comes back in. >> pop for newell rubbermaid. >> if it fails here you got to be careful on the down side. >> as apple take as shot at health and fitness our next guest is a leader in health monitoring. alerting you immediately if glucose levels rise or fall. shares up 7% today after approving the professional device allowing doctors to monitor patients more effectively without pricking the patient's finger. terry great to see you again.

>> it's good to be seen again. >> how do you -- >> you guys are good luck for us. the last time i was on your show, the stock went up. >> we'll see what happens this time. no promises, that's for sure. how do you fit in a world in which apple is going after this market? they want their iphone to be the dashboard for your health devices. how do you fit in? you have got an app that works in conjunction with your glucose monitoring device. >> that app is displayed on an iphone or ipod touch. so we are in a degree of collaboration with apple. i think it's a great opportunity for company. we are approved apple developers already and have a relationship with them. so i just see this whole converge ens of wearable technology and open connectivity is where we want to see this market move and we'll be right

at the leading edge of that with our own technology. >> do you think apple making this a big push, does that make your device and the idea that you can monitor your health wirelessly and doctors or parents c c'mon -- will be ableo monitor their children wirele wirelessly -- >> see the portability of information, having the receiver being a phone rather than hand-held receiver dedicated i think will drive adoption tremendously in both of those categories. >> in terms of the catalysts we're expecting, the use in pediatrics, how do you look at that market? i believe you have about a 10% penetration in paediatrics?

we got approval in january. as you said, our install base was about 10%. right now we're running a new product shift about 20%, 21% are pediatric patients. as we get the opportunity to detail the professional group and parents responding positively. >> thanks for your time. we appreciate it. the ceo of dexcom. a lot of analysts like this stock. these approved by the fda. >> it had a rough early start to this year. the stock sold off -- somebody mentioned precipitously. it feels like it bottomed out on may 2nd. it seems to indicate that. they're not going to be profitable the next year but i think you got it. even with the move today, i

think it's worth owning here. >> breaking news. let's go to dom. >> breaking news from dow jones saying the u.s. has agreed to halt or pause its evidents to reduce iran's oil sales for six months. iran will halt its nuclear program progress. in essence, iran has agreed to slow down its nuclear program and the u.s. agreed to ease up on sanctions. iran says they'll halt their nuclear program. this according to dow jones reports. back over to you guys. >> what does this mean? >> seems like we're a trusting super power and it's not just in iran. >> pdh corp. stock behind brands like tommy

hill figurer falling after hours. so should you buy or sell the name, time, on more fast straight ahead.

. welcome back to "fast

money." shares of apparel company pvh corp sinking. down around 6.25%. after the company missing profit in sales estimates. cutting its full year guidance. pvh is behind calvin klein and tommy hilfiger. ceo sat down with "mad money's" jim cramer to talk about what challenges are facing pvh. >> the macro environment right now is somewhat more promotional than what we have seen in the past. >> are there specific retailers causing a problem for you? >> if you walk the mall you'll see it at that level and the specialty store level and department store level. you'll see higher promotions. >> if you want to hear more, catch more of that interview in the next hour. tune into "mad money" with jail cramer. 6:00 p.m. eastern time. right here following this show on cnbc. back over to you. >> thanks for that. karen, is there a read-through?

>> yes. i'm long macy's. pvh is outstanding and well managed. to me, it seems like the stock price reaction is little over done. if it traded down tomorrow, i would like to buy some trade. >> time werner, the magazine of the business including time, sports illustrated and people. will investors hold on to the stock. with us now, john, aka, "flash." >> nice. >> that was good. in terms of assets, you would want to dump that stock? >> that's the obvious trade here, right? it couldn't be much worse. the signs have been there for years. there's no indication it's going to get better. it's not that simple. i talked to a couple of hedge

fund managers saying they would like to short this thing but they won't. in fact, if you look back last year, springer, the german company, it's been up 40% and a big reason that happened is because they sold a bunch of stuff no one thought anyone wanted for $1 billion. stock is continuing to climb since then. it's tough. >> this looks like a classic joel green let's spin out where this is bad business. although the balance sheet looks pretty good. there's no debt on it. >> yeah. it's not -- >> slow growth for a long time. >> that's right. it's more like this is not the kind of company that's going to fall in this environment. i mean, look, it's got decent free cash flow yields and pay a good dividend. this is not what's going to sell off in the environment. if there's not a deal done, it's not likely to fall apart. look at news corp up 10% from

last summer. not a whole lot of great things going on there. it's a tough thing to get negative on. >> are there assets where you think they could sell those off and get the premium axle springer was able to get? >> yeah. in fact they were in talks with meredith and that did not work out. after the spin happens, they could do this in a tax efficient way. these are very old magazines. the tax liability could have been enormous. even with meredith. so they might have to wait six months depending what the rules are. that is keeping people away from it. >> guy, your -- >> twx. twx kind here at the $70 level. we're right back again. why are they showing this? >> because we can show sports illustrated. so we will. >> you know, for our viewing --

>> there it is. >> oh, my -- >> you're welcome. anyway, twx? >> timmy did that same post. in the green room. >> look, i think twx is interesting. to me, i would prefer to take it to the place where people control the content and i would still go back to disney. i think they deserve. "frozen" has only begun to fight. >> jj thafn jchlj thanks for co. last week on "fast money" regis philbin got the job offer of a lifetime. >> i have an idea for you. >> let's hear it, david. >> i thought i could take your advice for the summer and we're trying to get some young blood in at green light and wondering

if you would want to come intern for the summer. >> exactly what i have got, some young broad. >> the tv legend himself let's us know how his day with david ieinhorn went after this break.

welcome back to "fast money." keeping an eye on shares of both sprint and t-mobile. dow jones says that sprint and t-mobile are close to terms for a merger. this deal would have sprint buying t-mobile for around $40 per share. again, dow jones, sources. t-mobile working towards a formal contract. this could come together later this summer. they say sprint and t-mobile are agreeing on a breakup fee on the event the government rejects a possible deal and that breakup fee would be more than $1 billion. again, t-mobile, sprint agreeing on terms for a merger. dow jones citing sources and a breakup fee could be north of 1 million. back over to you guys.

>> thank you very much for that. what does this mean for the other players? >> i think this is great news for the sector. i will take the view this may not be what the government feels but you'll have a third powerful player. i think this is good for consumers. i think the deal has to go through. >> second straight day of bullish operates buying in apple. one major investor betting nearly $60 million that apple would reach record heights by october. mike, what do you see? >> as you pointed out, you have been seeing above-average options activity. what stuck out what the size of the trade. what we saw was one investor making two substantial bets. they bought 20,000 of the october calls. they also bought 10,000 of the october 700 calls for $14.75. these are bets that the stock is going to get above that $700, a

price it hasn't seen since september of 2012. put this in perspective, if they exercise both these calls, they're going to end up being long approximately $2 billion worth of apple stock. this is one of the largest stock trades we have seen in a while. >> thanks for that. regis philbin isn't just a tv icon. he's a savvy trader. david einhorn called into "fast money" and surprised regis with an offer he could not resist. >> i have an idea for you. >> let's hear it, david. >> you did such a great job finding micron and it doubled. i thought i could take your advice and we're trying to get some young blood in at green light and i was wondering if you would want to come intern for the summer. >> exactly what i have got, some young blood. >> and in fact, regis did bring some young blood to green light yesterday. joining us on the fast line with all the details. what did you do with david? >> hi, everybody. yes.

i went up to the david einhorn offices and met everybody. happens to be a very nice guy. we had a long, long talk. i'll tell you how it ended. they thought i was the best summer intern they ever had. >> probably the only they ever had. but in terms of calls, i understand that you made a lot of calls with david. >> yes. i suggested to david that we call micron tech, molly corp. and we had some interesting conversations with the micron tech people and they thanked me very much for helping them. and incidentally i don't think it's going to bounce down much anymore. i think it's on its way to at least 30. i think it almost touched 29 today. we had a good chat with them. then we even called molly corp. now today they're up 22 cents. molly corp never goes up that much. i'm lucky if molycorp gets 2

cents. >> but in terms of the calls to lulu he mon. did you ask david why you were calling? it had been rumored that david was short lulu lemon. what were you asked to do here? >> he didn't ask me to talk about it either. lulu lemon is one of the stocks i had. we called three different stores, one in texas. one up near boston -- three of them and not one of them answered. >> did they know it was you on the line? >> no. but they should be answering their phone just in case somebody wants to buy something. >> they called back today though? >> yeah. they called back today. well, too late. regis is tired of them. >> but you're still in the stock. >> i'm still in the stock but

disappointed that they didn't take the calls when we made them for crying out loud. >> part of the condition for you going as an intern was david wanted new ideas. is lulu lemon an idea you're suggesting to dav ing ting to d. >> he brought it up. >> he showed interest on his own. >> yes, i think he did on that one. didn't show any interest on molycorp. i think we gave them a big boost. i was overcome them going up 22 cents. you know what that means to regis -- >> 22 cents. >> it means everything to regis. >> thanks so much. >> thanks so much, guys. great being with you. >> kind of interesting. >> very sneaky. >> yeah. >> i don't know. >> stay tuned.

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