your business and you don't get caught up in how you achieve it and the tools with which to achieve it. >> all right. thank you so much for being here on the panel, sir. >> thank you. >> thanks to everybody. "fast money" starts right now. melissa, what's coming up. >> there is one chart in today's session that's dennis garman of the garman letters. "fast money" starting right now. live from the nasdaq market site. i'm melissa lee. our traders are tim, pete, and guy. targeting netflix. someone not giving up. new york city comptroller first on court reporte . is this a big start for a rally for apple. traditionally after stocks go up

a year out and then also for apple, it outperforms before product launch. >> that product launch, the only thing i would be he is about the now is i don't think we'll expect anything before september. hopefully we get the new iphone 6 and then obviously later in the year looking for the wearables and the iwatch. there are certainly catalysts in the second half. right now we have got time and getting through july, most of june. but july, august before we see these numbers. going into the split, unbelievably high volume in the options. now 1.3 million more than any day going into it. huge volume and almost 1 million on the call side. people are bulls going in and people continuing to be bulls in apple. >> this is a 52 week high for apple. >> this has been a rally. i think a lot of people have piled in. there's a lot of estimates that a lot of guys use the stock split. our friend, steve, up 5%.

when you look at what's going on with the iwatch and iphone 6, guys are adding on 5%. this is what people care about. when you're in this late stage, apple is big cap where you can put a lot of capacity to work that does have drivers and has a valuation you can play. i think things are working. to say it's time to jump in, we're at the all time highs when you consider div's. >> the problem is it's such a crazy cult stock. that's why this could be different than anything else we have seen before. people want to see it sell off. i don't think you're going to see it sell off. people on friday saying 85 was the lower band. i think that's pretty much it for the all time high in apple. i don't think you're going to get a sell off here. i don't think it's going to get weak enough for you to think people have cut into it. >> we have talked to it many times. you suddenly vilified in the

world of retail. do you think retail is involved in the stock? i sense people got sold out at the bottom and are more reluctant -- >> wouldn't that add to my case versus yours? if retail is not in the stock, you're going to have that retail chase. not to say it's right or wrong but you could have that chase back up to par. >> guy, you think it goes to 100? >> yeah. when it traded down to 2013 you put in those double bottles. 525 was the level it took off from. i'm in the camp it trades 100. we'll see what happens when it gets there. if it gets there, that's going to be the level you put in the double tops. >> let's bring in collin gillece. you missed the 24% run from the earnings report. >> absolutely. this is an increase in valuation

of over $100 billion. no new news outside of the stock split. that $100 billion that's tesla, netflix, twitter, linked in, those entire market caps, plus you can throw in yelp. this is a significant move up. without any change to the fundamentals. normally you see numbers going up. estimates have been going down over the last four weeks for both the june and september quarter and even the december quarter. what's changed? we have an iphone 6 coming. >> the first quarter numbers blew people away. >> wait. the iphone numbers were good but the ipad numbers were miserable. that was scarey. down 16%. >> well, that's what matters. >> of course. even in the iphone, that 17% unit growth is below what the market is doing. it's still something to be concerned about. plus it's the china mobile

quarter. what's going to happen in the june quarter? is that china mobile strength going to continue forward? could that be the catalyst to pull it back? i'm looking for the june quarter to pull it back. >> i get what you're saying in terms of fundamental. but in terms of historical, 12 months up typically up 28%. that have split stocks since 2010 and take a look at apple outperforms. it seems like in terms of historical patterns are lining up. >> and a $90 billion buyback. i see all those points. wwdc, when that comes out, you see the stock would tend to sell off and dip down. you have got to wonder if the company is stepping in and helping drive it to support their flow. more points if they are.

even when you open up close to the split, get in there and support the stock and make sure the optics look positive. let's see how the june quarter prints. it is the weakest quarter in the calender year and it's in front of all the product launch. plus the channel inventory can hurt numbers. >> how did you put your arms around the software? everybody talked about the developer's conference. it bounced right off of that. >> there you go. >> is there enough there for you, somebody in the space that understands this far better than everybody else, is there enough there in that new launch that that's something we can say you know what, that's tangible, we can buy that? >> great point. my main complaint or concern about apple is that it's still a hardware company. you can talk about the ecosystem as much as you want. but they make the majority of their money on the margins on the hardware. you didn't hear maps talked at

all during wwc. instead of duck duck go which is the search engine -- have a little foot hold. instead of buying beats with a handful of subscribers. go after the number one brand. spodfi. there's a lot they can do. >> clearly you're laying out a negative case. >> sure. >> why not put a sale rating on it? you just said whatever -- based o o ono change. >> if you have weak june quarter numbers, will people buy that weakness because they anticipate the next product launch coming up? plus from a ratio, it's not that expensive. the company is still producing tremendous cash flow.

it's an amazing american company. but they could do things to help shore up their future in my view. >> i was going to say, it seems like google is now chasing apple. i'm hearing they looking to buy music streaming. the point is it's not apple sitting back. the payments and other ways to monetize their eco structure we have talked about. these are things you haven't seen. and everything you said about china. that's a second half. i don't think people price that into their model. if it works, it works. the first quarter was a surprise. >> it did help drive those iphone numbers. that strength may not continue if you start thinking about a windown in channel inventory where their sell in is going to be less than their sell through. >> thanks for coming by. we have got breaking news. on ebay and facebook. julia. >> facebook is hiring ebay

paypal's ceo david marcus to run its messaging products. marcus joined paypal about three years ago because paypal bought a company he ran. so paypal absorbed that and he started running the mobile business and went on to become president of all of paypal. now he's going to be overseeing all of facebook's messaging except for what's app. 200 million monthly users of facebook's message app. it indicates based on the history that facebook is looking for ways to make money from its messaging business either by attaching payments which obviously he has plenty of experience from or other ways of monetizing that business through some sort of payments, perhaps, even advertising there. a big move for facebook, getting someone who has a lot of experience in the mobile space and making money from mobile and

also having a lot of impact on paypal losing its president. back over to you. >> the impact seen more and a nice gain for facebook. >> i look at the chart. i think around 49 bucks there's plenty of support for the stock. it's all about some of the parts. even if you say paypal is stuck in the mud, and i don't believe that, they're getting 20% of growth out of latin america. globally paypal is something that i think has been undermonetized. i think people are looking for reasons to point out why ebay's model is not working and i don't think you have to. >> i still think it's a $75 stock. they just got caught up in everything else getting sold off. it basically held these levels all throughout 2013 b. it better hold here. >> kudos to mark zuckerberg.

he's been working on ways. he's done some acquisitions and we can be at critical as we want. they used a lot of stock in the acquisition. that's come out nice for them. they continue to go out and figure out ways they're going to make money. this is a huge acquisition. >> one biotech company jumping more than 200%. merck is buying a drug maker. next. we have got the man who wants changes at the top for netflix. the new york city comptroller is explaining why he's fighting the netflix chairman and ceo roles all next.

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a news alert now on godaddy. >> that's right. godaddy wants to go public filing it's s-1. it had $1.4 billion in total bookings. up from last year. as far as revenues, it had $1.1 billion in revenues.

they are not profitable. but believe their bookings are an indication of their momentum and growth. >> shares of time inc. and completing its spinoff from time werner. the ceo had this message for skeptical investors. >> i say we're going to prove them wrong. i came from the world of private equity recently. when you look at those companies, you look at a company with real assets. i've got some of the most trusted brands in the united states being around for over 40 years. i have got strong cash flows and to write off a company like that i look at is incredible. this company has great assets. >> that makes our first top trade of the day. >> steve forbes said basically the same thing. in the times space, the panthian

of time stocks. >> panthian? >> like that. >> you know what's funny, is people at home might think i'm calling for that. which i'm not. it's gratuitous and unnecessary. >> it's showing the value of their brand. >> can you put a chart up of twx. twx in the time space is where you want. >> but not time inc.? >> not from me. >> amazon jumping into online payments. grasso? >> 40% of their sales are as the middle men. they make a fee off this. this is another example of how you're going to use amazon going forward. their cloud, retail, streaming. you could make a case being diversified is owning amazon and google. i think the stock still performs well.

>> shares of idenix. up. what's the next big takeout target? meg, obviously, the obvious targets could be the other makers? >> we saw when gilead bought for $11 million. the largest in history. just after gilead brought pharmaset, paying more than three times on the friday's closing price. these two were together in this. achillion is up. but getting out of hepatitis c. people might be looking there. enanta is another one, a pretty

small company. and then i was talking with a biotech investor saying he thinks gilead is a potential takeover in the space. >> it's -- how would that happen? >> j and j would potentially take it out. they would have to raise a lot of money. it would be a huge, huge deal the them to do. >> in terms of the merc/idenix, how much? >> they were separately challenging the patents and together potentially they could have a stronger case to say negotiate with us and give us some of the royalties. somebody i spoke with said it could be 70% of the deal but can't talk about because of the lawsuits involved. >> that would seem to me it would be a bigger challenge to gilead franchise and make gilead much more of a takeout target than what it would seem on the surface.

>> it was down about 4% today. it's not like it's getting depressed to levels where it would be an easy takeout. it's going to beef up merk's offerings. >> this makes more sense to me than when we were talking about pfizer going of astrazeneca. the gilead, as you mentioned, guy, i don't see how that happens in this day and age. i love what merck is doing here. i think biotech, pipeline, that's what you want to buy right now. these huge mergers take too many years. this makes far more sense going forward. >> there's not a lot of players in the space. that premium is not crazy when you consider these guys are going to be one of the only few players. >> what kind are you seeing in killian? >> the volume is off the charts

absolutely. >> meg, thanks for stopping by. netflix shareholders voting today. some are keeping the fight going. coming up, we talked to scott springer, new york city comptroller why he thinks the dual role is a house of cards ready to take down the company. plus the pit boss bought some unusual activity. much more "fast" straight ahead. peace of mind is important when you're running a business. century link provides reliable it services like multi-layered

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a measure today which would have split the roles of chairman and ceo at netflix. behind the proposal, scott, is the head. this is not going to deter you from bringing this up next year. why pick on netflix? >> we're not picking on netflix. there's a long-term investor with our $150 billion pension fund we want netflix to do well. but we also believe that the ceo can't answer to himself. that's why we want to separate out the role of ceo from chair of the board so we create a stronger board for the long term. we want to ensure that the company will do well in the future. >> has there been anything that reid hastings has done that raised eyebrows? this is why the two roles should be split? >> if i saw him now, i would

shake his hand. this is not about any individual. this is about a long term strategy. you got to be the ceo or the chairman of the board and that benefits companies. if you look at the fortune 500 companies today in 2006, 10% had separation. today we're up to 21%. i believe it's going to grow in the future. >> kudos for you being in a stock that's done well. but you have a huge fiduciary responsibility in the world. you see this conflict and how do you apply this across the board? people have been accusatory of silicon valley on this relationship on their boards as well. where do you start and stop? >> you can't be silent. i think you're right about being a fiduciary. keeping eyes open. asking questions of the shareholder. we have a whole lot of stock invested in netflix. believe me, no one wants it to

do better than i do. i have to protect retirees and future retirees. we know that companies have to be held accountable. we need strong board of directors and independent board of dresirectors. have a board that's going to ask questions. >> i think tim is asking at what point would you sell and say i have got my shares and this is a serious enough issue for me to say i'm getting rid of these shares? >> aye think it's better to stay and fight. as fiduciary you want to be measured. what we're asking of these companies is to consider our proposal. last year the proposal attracted 77% of the vote. it really is about a long term strategy to get the ceo's to understand that they don't have to be the chair. they can create separation which will help them do a better job because they'll have to answer to a chairman and answer to a

independent board. that's going to value the company. >> thanks for stopping by. scott stringer, the new york city comptroller. in your view, does this matter? >> i think it does. this is a conversation not long ago with jpmorgan. i even go back to football. the general manager and the coach. there are folks you got to answer to. and i think that conversation gets too mixed. i think it's better if you can separate those out. >> what happens if it slows the process down? i'm just pushing back a bit. how much does that slow the process down? how much of that is at -- to the detriment of shareholders? is there a case to be made for it's a log jam in the system -- no one wants to see abuses of the system but there are already checks and balances. >> how do you trade the stock? we have been talking about the potential for it trading back to 450. now you have to be thinking, all

right, where am i now in netflix. i think if you enjoyed this run, i think you got to be pulling at least half this position off the table. if it trades higher, maybe get back in. but right here is no man's land. >> let's get some unusual activity at a housing play that had some bullish options activity. >> look at the beginning of the year is $20 a share. today they were selling those, taking some profits off the table and tripling up on the july 17.50 calls. obviously there's folks fighting against this right now. but other folks seeing upside. >> you liked kb? >> it was up today and i think you're going to see upside potential especially with obama

student program expanding more and freeing up credit into the system. >> we break down which companies are really growing and which are just fluffing the numbers next. still ahead, tesla's ceo, why he thinks shares of the car maker are priced just right. more "fast" straight ahead. ♪ ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ [ birds squawking ] my mom makes airplane engines that can talk. [ birds squawking ] ♪ my mom makes hospitals you can hold in your hand. ♪

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welcome back to "fast money." live at the nasdaq market site. musk delivering the first right-handed model s vehicle this is weekend. cnbc spoke with him and what to expect from his $5 billion giga factory in the u.s. >> it needs to be operational in approximately 2.5 years which is a short time for this tmagnitud. if you take everything in china, k korea and japan. >> did you watch the share price every single day? >> i try to avoid watching the

day to day share price. somewhat distracting. i don't know what the value is right now. is it -- it's probably i mean, i think it's probably -- i'm just guesting because i haven't looked in a few days. i think it's -- i think it's probably not too crazy. i think it's -- certainly there's a lot of optimism. we need to execute very well over the next few years in order to justify the stock price. but i'm feeling like we probably will. >> do you really believe that he has no idea where the stock price is trading? >> no. >> no rnl exa. >> exactly. >> at times there's been expressions. but with tesla, it comes down to two things. one this whole giga factory is a black hole for r & d and the share price and for competition to assume this is not an auto company and you don't treat it

like there's going to be anyone else in the spells is absurd. >> and you're also giving away some of your secrets. >> absolutely. this is an interesting name. the way we all tend to trade, we look at tesla all the time and looking at the charts constantly. it seems to hold a lot of the support levels. you can't get your arms around the valuation. it's difficult. he, himself, has talked about when the share prices have been overvalued. kudos to him. >> yeah. i mean, 182 was your stop. that's where it bounced off of. had to be so precise but it does trade exactly on point with t h technica technicals. >> 205 is? m no-man's land. right here you're flipping a coin. >> time for tops and drops. pop for family dollar up 14%. pete? >> we heard about the fact that

carl icahn has 5.49%. options have been going crazy on top of that. they did on friday and today. it's too hot to touch. b back away. >> tyson down 6%. >> this whole pork value, first of all, jbs started at 45 bucks and ended at 63. i would not be with tyson. >> got a pop for hittite microwave. up 29%. >> i think you own it into their analyst day on june 17th. >> a pop for international game technology, 14%. >> headline ran right there at 3:12 in the afternoon. they were exploring sales. either it's going to be

equity or somebody else. >> pop for short suits. up top the suit involved business but down below it's ready for the beach. barney's is among the stores. celebrities rock including angus young of acdc. >> socks no socks? >> no one is getting near angus young in terms of that look. i dressed up like that for halloween and looked like eddy munster. >> and we care. >> there we go. now you know. >> how do you know when a company is making it or faking it? revenue growth lags behind in the last year alone, eps growth

of s&p 500 companies has outpaced revenue growth by a factor of four. let's bring in cofounder paul hicky. is this something we suspected for a long time? >> we have seen it happen. it's really accelerated in the last four quarters. for the last three years it's two to one and now gone to four to one. revenues have declined while earnings averaging about a 10% growth. financial firms are shrinking. three associates in the s&p 500 that have been faster average revenue growth over the last thr 3/25 than earnings growth. the other two are health care and materials. and health care you have the demographic factors working the affordable care act. the rest of the market is pretty much as they say financial

engineering we have been see. >> you sorted this out so we're all seeing. we're also seeing eps growth. it's not a case where companies are choosing to grow rev noous at the expense of profits? >> exactly. you tend to see -- you should see sales growing when earnings are growing. there's plenty of factors. productivity. but the main thing is stock buybacks that we have been seeing. we have seen this year almost as much debt issued for buybacks as we did all of last year. ibm has issued $30 billion in debt and had $30 billion in buybacks. when the money is free they're going to do it. you can't fault them for doing it. >> what's is cyclicality of these factors? in terms of where you were seeing their growth in the last couple of years? they were not performing in the same vein. >> they just haven't had the

growth there. you know, we want to focus on is companies -- you look at the revenue growth numbers and analysts are forecasting those numbers. you want to see company that is can beat expectations. we have been seen during this bull market earnings have been beating forecasts and revenues lagging. we look for companies that are consistently beating expectations for revenues. they have an ability to see stronger than expected growth. amenol beat 20 out 28 and there you have a lofty valuation there. that's not working. >> you say beyond these examples. does it -- like shareholders are we warded for this? >> shareholders are going to be rewarded as the earnings growth and if they can grow organically

i think that's better in the longer term. you look on the flip side of companies that have beat earnings forecasts and missed revenues forecasts. you have seen proctor and gamble is one name that's been consistently beating the earnings 2/3 of the time and misses the revenue forecasts 2/3 of the time. >> guy, where would you go for your revenue grower? >> in the health care humana is one of the names. i think glennview talked it up. you have 10%, 11% revenue growth which is strong. if they are in the $13 a share it's $185 stock. i think this fits what paul was talking about. >> i went to amazon. none of those -- i'm the rogue trader here. it grew 20% last quarter for

$150 billion cap. that's temperaturie i telling y >> i love that paul brought up under armour. so you look at the earning's growth and the revenue side. their crushing it. etna is another one of the names in the health care field as well. they're beating it on the revenues. when you look on the top line, this is a company despite the fact it's 52 week highs. at 11 pe i think it goes higher. >> and this is a phenomenal area to invest. two places where the abundance in the u.s. is making feed stock cheap. this is created to the top line of where these guys can push the business. and mon santoe, tremendous growth. dupont getting them further into china. both companies have had pretty good runs.

i think you can stay long. >> it is now cheaper for spain to borrow money than the u.s. after the break. why dennis garman is calling it sheer lunacy. plus shares of green mountain falling. we get a trade update with the pit boss next on "fast." (vo) watching. waiting. for that moment, where right place meets right time. and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours.

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. tie -- time for the trade update. the stock of green mountain erased most of the gains. pete, you followed? >> i did. they were going for the june weekly up side calls trading 5 cents. they went to $5. i think there was some buying and also some selling, people taking some profits. i got stuck holding some and waited too long in that stock. i thought there might be some news coming afterwards. there wasn't. so the news friday never came out. the news today never came out and here it is at 114. >> what did you do? >> i'm still holding. >> the bond markets, spanish yields falling to their lowest levels. is it safer to buy bonds from

spain than the united states? let's bring in dennis garmin. it's also irish tenures. what gives? >> what gives is lunacy. we have most of the former pigs trading at or below that of the united states which makes no sense. and recalls several important rules of economics. i think it was ben stein's father, herb stein who said that which cannot continue won't. the flip side happens to be that lord keens said the markets can remain illogical far longer than you and i can remain solvent. what we have is a circumstance where spanish rates, italian rates cannot be below united states rates. there shall be a time where this is going to have a very detriment tral impact upon the

euro. i want to be a seller of the euro because of this phenomenon. the time is coming. it's not quite here yet. >> what are you waiting for specifically dennis? >> it will take some technical circumstance to get me to come back in. you had a period about 2.5 weeks ago when the euro traded to 140 and closed sharper on the day. you had an outside reversal day. friday after the employment situation report, you got another reversal in the other direction. that has me standing hard upon the sidelines. today's action after friday's reversal which should have followed through the euro should have gotten stronger. it didn't. my interest in selling it has been increased somewhat. you start to keep the euro lower for days, my propensity would be to be a seller.

i'll tend to sell it against non-u.s. dollars and tend to sell it against gold. i want to be a seller of euro. as herb stein said, that which cannot continue won't. b >> dennis, it's tim. as we get into the euro, i agree with everything on the surface. as banks don't park money at negative rates, you're going to see the ecb's balance sheet get smaller. this is one of the effects what's going on with the move right now. it's down $500 billion from a year ago. they have a much smaller balance sheet from the fed. but if you look at the dollar euro it's going to be difficult to see the fed's balance sheet change in the way the ecb's is. >> there relies the problem. that's the economic debate that's going to obtain for a while. i understand the argument.

it's a reason why i'm not wanting to be a seller of the euro yet. i'm sorry. these sorts of rates cannot continue at these levels. and eventually might be tomorrow, might be next week or two months from them. eventually commonsense will return and interest rates in europe will go back above the united states and money will be drawn here. hour economy is doing demonstrably better than europe. >> dennis, great to see you. thanks. dennis garmin of the garmin letter. tim would you trade this? >> he's right in where yields are. there's no question they should not be trading inside. this is why capital flows are coming back into europe. i wouldn't try to fight this too aggressively right now. it's very positive for our merging markets. european banks were the ones clawing money back from around

the world. it's also good for japan and these are markets moving higher. >> and chicos next. >> melissa, big moves on chico's, the women's wear company. exploring the possibility of being taken by a private equity firm. according to the report, they have been in talks with several private equity buyers in recent weeks. it's very early in the discussions. the stock is down about 18% year to date. they do have a shareholder meeting on june 26th. back to you. >> thanks so much. any trades here? >> guy, you have been known to shop there. >> the black market, that's where guy goes. >> if you cut me, do i not bleed? i'm in a very delicate state here by the way. >> why?

>> get a win tonight. >> i got forever 21. we have got gratuitous foot am of me there. >> bullish activity in clorox. we'll tell you how one trader's bidding the stock price can go next. but it's okay, it's just a new kind of adventure. and really, who wants to look backwards when you can look forward? the porter was so incredibly... careful... careless... with our bags. and the room they gave us -- it was... beautiful. a broom closet. but the best part but the worst part was the shower. my wife drying herself with the...

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clark shares back in the spotlight today. not because of any pro golfer. the stock was up more than 3% on on no apparent news. mike, what did you see. >> about 40 times the average daily volume in clorox options today. a name that doesn't see a lot of activity. trading about 30,000 contracts, 27,000 or so were calls. only about 19,000 open interests in all of clorox going into today. the strike that was most active with a july 95 calls those started trading in the morning and got up to $1.66 at one point. on average close to 27,000 of these traded at a price of about 75 cents and these are bullish

bets that the stocks going to be above 95 or up almost 4% in 40 days. >> did you follow in? >> i tried to. these moved so fast. they moved so fast today it was unbelievable to the upside. this stock jumped fast, almost $2.5 before you can even blink. almost no chance to get in. >> the entire stock traded three types -- >> what was that? >> lost mike. >> mike, thanks for that. you can catch options actions. check out the website optio optionsactions.cnbc.com. >> tonight david einhorn's negative presentation with an exclusive with jim cramer. take a look. >> is there anything inaccurate in the presentation? one of the things where he says the declining earnings estimates

and revenues. that seems out of sync with $1,000 price target. >> first of all, i was trying to be facetious. >> i wanted to be sure. because there you would be an insider buyer not a seller. >> i was trying to be a deferrer of the value. >> that's important. >> i acknowledge to the gods of capitalism that ceo's are not saying what their companies should be worth. >> he's saying it would hit $1,000. >> that's a backtrack. >> you want to watch this. cramer will dive deeper into the story next on "mad money." we have got your first week next. what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace

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tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. csx. how tomorrow moves. what a day. can't wait til tomorrow. we a special programming note. tomorrow "fast money" will be live from lincoln center here in new york city where we'll be trading the future. cnbc and the university will be joining together. discussing to digital currencies and how you can profit from them. tomorrow live from lincoln center. let's go around the horne.

tim. >> tbt goes higher. >> csx new highs today going higher. >> kb home, up. >> c'mon. >> watching. more fast "mad money" starts right now. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now! >> hey, i'm cramer. welcome to "mad money." victim welcome to cramerica. my job is to educate you. call me or tweet me at jim cramer. perhaps everybody is just being to