markets and those that are taking markets as well and to keep it fair, i think is the big thing that everybody is looking for. that's what michael lewis if he did anything with that book, maybe he did that. >> thank you. we have to leave it there. watching the dollar, watching these reports into next week and watching "fast money" with mel his la see. >> we have the analysts who have the gal, the gal, to downgrade apple the day after the big product announcement. he's coming up. >> i like these cuffs from rebecca. >> they're not bad. >> over to you. >> "fast money" starts right now. live from new york city's times square i'm melissa lee. tim seymour, pete najarian and guy adam my. chinese internets on fire as excitement builds around the alibaba ipo next week. we'll have the details from someone at the road show coming up. but first, we are just three trading days away from a key fed decision. investors are looking for incite to when the fed could raise rates. in the last month the dollar index has rallied 3.5% and what's going on with yooelz.

ten-year yield ticking higher over the past week. will this be the meeting, the meeting, that changes the trading game for the rest of the year? brian kelly. >> no. >> those two things -- >> no. >> those two charts tell me that the fed is going to ease off, whether if you change the language -- >> they might change the language. they should start selling off some of their portfolio. the ecb coming in with easing and bank of japan coming in with easing. why not use the market to your advantage and do that. they won't. they will change their language a little bit. but really the question comes down to investors have to asks th themselves the unemployment issue structural or temporary. structural the fed should be out of the way. if it's temporary they should continue on the gas. for stocks, as long as inflation stays stable, and rates stay stable, stocks will be fine. >> you mentioned changing the language. >> i was going to say -- >> no big deal. that would be a big sdmeel little bit of change is a big deal and i think there will that next week. i think there will be enough of

a hawkish directive different than what we heard that yellen will spend the rest of the week and following weeks trying to backtrack a little bit. i think the fed has gotten to a place you've already seen movement inside of the fed. you see where fed fund futures are. a couple guys around the street, merrill lynch moved forward their hikes on interest rates between december and june of 2015. i think this is enough in the short run to unsettle markets. the currency volatility is causing volatility for the rest of the markets and what we're getting. brian and i were talking about this today at a time when the ecb and boj policy is allowing those guys to push through an open door the dollar will strengthen and that's going to be not good for stocks. >> let's play the game here. >> i love playing games. >> say there's a change in -- >> 5:00 monday through friday. >> it's called "fast money." put out there that perhaps the feds could dial back the considerable period language which could put traders nickers in a twist. >> i think they've already been in a twist. >> guy, do you wear nickers?

>> are they twisted? >> talk about your knickers, guy. >> can we use an expression here? >> i don't know. >> this is the week tim's been waiting for the last five or six trading days in terms of what's happeneding in yields. movement of 20 basis points. my thing is the instrument, the tlt had a tremendous year, given up about 4% over the last five or six trading days. i'm in the camp rates are going lower and tlt is the instrument you want to be in. i think it's going higher. i think dr. j is in that camp as well. obviously this week, the last five or six trading days has been difficult but you've seen moves of this magnitude now a couple times over the last six months, and i think that's all you're seeing right now. >> but the gains this year the risk/reward still to be long in the trade? >> i believe that risk/reward is still there, yes. >> pete na area jan. >> the most interesting part we've watched volatility come back down, dropped and closed upper the 200 day moving averages. which tells me going into an event like this, like tim says, there will be change in the language and i think they will be back pedalling as soon as we

get that change. because of that i think you want to own volatility, have protection to the downside because of protection. i actually view this as a positive. i think we're going higher. the way the banks have traded recently including today. goldman sachs over 181, i look at si ty to the upside, jpmorgan to the upside. when you look at what's been working, continues to work, big cap tech. people want companies that have growth, people want companies that have a yield, people want companies that actually have a valuations of extremely palatable right now. >> say you don't trade volatility. you have a change in language, start to back pedal. that change would presumably cause unrest. >> little unrest. >> in the equity market that's a buying opportunity. >> great -- >> opportunity. >> incredible opportunity considering where we are right now. >> and i think it's important to note that although i think rates will go higher and next week what i concur with what pete said, equities ultimately if the ten year rests between 280 and 310 we're in very good shape. so for all the people that say we're not only going to test the lows but through that on the

downside of yields no way. yields can go higher and we can rally. we need to get the fed out of the way. you will not get them out of the picture but you -- that first rate hike and movement in the yield curve needs to happen. >> do you think that we're sort of in goldilocks period. >> i think we are. look at the 30-year bond auction today. a phenomenal auction what we need for equities. we need money coming into this country to keep rates low. >> give me a trade. say there is the volatility after the fed meeting. >> you buy. >> buy what? >> you can buy stocks. you buy the s&p. i don't think we're going to get that volatility. pete is right, buy the volatility ahead of it. >> just as protection. >> much more bullish than that. >> absolutely. >> i even think for a trade, you can buy tlt. >> let's talk oil finishing higher after wti crude prices touched 16 month lows in the session. beakers looking after the longer data futures brings us to the chart of the day. >> right. >> what are you seeing? >> we're all talking about how oil tanking and this glut of oil. when you look to 2015, 2016, you

look at december 2015 futures, they're up 4% for the year. oil futures, basically flat and down considerably. go up to '06 up 17% for the year. what's the oil market saying. they're saying this glut of oil is temporary and the reason why they're saying that is when you look at some of the depletion rates in the bakken shale oil they're 70% plus in the first year. as soon as they drill a hole within one year 70% of the oil is gone. they're on this constant treadmill trying to get oil out and they've drilled the easiest wells first. so the further out we get in time the harder it is to get oil out and you saw real nice reversal in oil. so perhaps, perhaps, the short term in the short term the oil sell-off is done. >> that was the most interesting. we had dennis on last night who thought the prices would continue lower. >> to 85. >> it looked good early. that reversal despite the strong dollar was interesting. doc on last night talking about noble drilling. i think you can still play

anadarko from the long side, gave you levels last night and exxon bounced snuds what did you do with the tso short. >> i actually took a little bit in, shorted it on monday moved 6, 7%. that's a nice move which moves around a lot. if you look at the level on the stock around 61 buck, there's a key level, 50 day, maybe you take a little profit. i have half this position on. i think it can go lower, refining utilization is coming down. oil despite a rally is going lower and that's going pressure the sector. >> chinese internet names like way bo and seena rallying on buzz over alibaba, reports that hedge fund giants are all interested in getting a piece of the deal. let's bring in oppenheimer managing director jason helstein who attended the road show this week. great to see you. >> you too thanks. >> what was it like? >> we attended virtually. you know, alibaba is a very interesting story. i think the revenue story speaks for itself. for a company to be of this sized and deliver, we're estimating this year 41% revenue

growth to over $11 billion with very strong margins around 50%. so to kind of -- this company is going to be one of the winners. and the road show really laid out what the opportunity is and tried to give you a sense of how -- you know how further penetrated they in the market and really that while they're at $11 billion in revenue it's still early. >> it sounds like you're more bullish after seeing their presentation. does that make you more bullish about yahoo! now that you've seen this? >> i mean, we've had a model on alibaba for yahoo! for a while now. we have a $43 price target on yahoo! stock closed at just over 40 and that's based upon basically 25 times earnings. interestingly, the chinese trade at 30 times earnings and alibaba is growing faster. so, you know, the ipo range put the mid-point at 23 times.

so the question is, you know, if the enthusiasm is really there, is this a 30 times company and ultimately, you know, is yahoo! more of a high 40 stock. i think an important point is, you know, if you're right that all these institutions want stock that's not going to leave us a lot of stock left over for retail. >> that does open up the question you said $43 price target on yahoo!. i had think it's higher, closer to 50 because of how little yahoo!'s going to be selling out and because of the position going forward. does that start to make you start to think hey we need to reanalyze this especially post-ipo. >> sure. we're maintaining our outperform rating not downgrading the stock ahead of the event and tell investors let it ride. think about yahoo! if the majority of the value of the stock is ultimately alibaba, your downside is protected. why not take a shot here. yes, if you're a major institution and you can get stock in the alibaba ipo that's a different story but t the majority of the people out there are not going to be able

to get stock and whether you try to play it through yahoo! or try to play through softbank we think yahoo! is still particularly interesting. >> that's the reason why you have an outperform on yahoo!. it is alibaba. if yahoo! had no alibaba it would be a different story. >> their display business is defining. >> thanks for coming by. >> thank you. >> what's the trade here? >> first i talked about on monday way boo my final trade, 25% since that point. here's the reason, alibaba owns 18% but they could own 30% of the company. we know they are looking to make biginvestments. weibo is starting to monetize mobile the twitter of china. in the same way twitter is moving and see what's been going on with twitter. some of that is the underlying value in the stock. i think it's a very exciting time to be looking at a bunch of the chinese internet names. look at china mobile the big company getting into mobile, jv with a lot of these companies. same things going on here going on in china. >> you took off of wb.

>> i took off that position today after running 25%. i've owned the position outside rite since more or less -- outright since the ipo and then took some off and put more back on lathe last week in anticipation of what i thought was going to be some of the sentiment. >> sorry. would you be inclined to buy baba? >> i think it's trading cheaper relative to its peer group. i think there's safety in this company over a dang dang or a vip shop because, in fact, it's big, bad, one of the three horsemen and it's an easier play for a big institution. >> on yahoo!? >> because of what we heard it is the yahoo! story is alibaba. the folks that aren't able to get into alibaba, yahoo! is the trade you would want to be in when i've seen nothing but upside. 45 strike calls being bought time and time again. november, japan, i think the stock is going higher. >> the fda approves a weight loss drug and the stock falls. new comments from the ceo next. and lululemon puts sheer pants problem behind it. oh. is it too late to buy the stock?

that's coming up next on fast. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement.

shares of lululemon sky rocketing today kicking off our top trades up 14% after reporting better than expected

earnings and raising guidance as the athletic maker's on-line sales took off up 30% year on year. >> comps -- >> oh. >> i am actually the yoga expert on the desks. as you can tell. >> you can have your time in the sun later on when you're called on. >> look at him chomping at the bit. >> this is a company that has certainly had its issues, one of the downward facing dog of death charts we did a while back but does appear with this quarter they may have bottomed here. the way the stock is trading needs to hold -- >> was that an intended -- too many things going on. >> what? >> you said bottom. >> sheer pants. >> oh. >> too many things going on. >> we want to get a trade in here somewhere. squeeze it? >> so this is one of those candidates where you wait a couple days, see what it does, hopefully holds 42. i think it will and then buy it. >> guy, what do you think of lululemon? >> very transparent observation by b.k. there. the margins were very good.

the quarter was outstanding and the short interest suggests that this sell-off was it. i think this bounce can be bought. >> yep. >> same-store sales down 5%. >> better than expected. yes, they're lousy, better -- look at the washout this stock has hadp. i'm telling you -- >> for example not for -- forecast for this coming year. when you look at this company you think they would have a difficult balance sheet and they do not. it trades 22 times earnings now and forward. not some overpriced stock. >> you like it too. >> i like it a lot. i'm right there with guy. >> you want to round it out here, tim. >> i will say this much. a bit of a dash for trash if you look at the retail space and some of these specialty kind of retail items that companies that we thought were broken are finding their way to market has priced in negative news and you're seeing some rallies. look at best buy, jc penney, the extent that market is interested in this picking over for value

maybe. >> sprint rallies as the ceo promises he's ready to make big changes. he talked about his new role as ceo on "squawk on the street". >> no. i mean the reason i took this job because i believe in the prospect of sprint, i believe that we only have 16% market share so i see a tremendous opportunity. i see a chance that this industry can be a lot simpler. i'm in it and think we have a good opportunity to continue to grow sprint. >> well marcel who has been on the job, i don't know, a couple months at the most and a lot of people said don't make any major changes in the first 100 days is doing his best to make as many major changes as he can. they're talking about consolidation. being aggressive in pricing in terms of their advertising. they want to make a deal with their parent company. they have the pockets and potentially the synergies to do that with other people. the stock's rallied 15% on the expectations.

whether you chase it here is another story. here is a company where people expected very little after the t-mobile breakup or the lack of the merger with these guys and, you know, the stock's got an fies run. >> yeah. i think time makes a good point. do you chase it here or not? a big run. a lot has been expected. look at the gap we had back in august. 7 is the bottom of that gap. so it's probably -- it's just about done filling that. i would be careful the next 20, 30 cents. you may want to wait for a pullback. >> exup orexigen, shares of the biotech company sinking despite approval of its obesity drug. meg terrell joins us with more details on what is behind the move. megan, what stood out to me what is going to be op the label which is sort of scary, always been the concern about these diet drugs, the impact on your cardiac health. >> yeah. absolutely. that's a big problem with this. the company has a lot of post-marketing requirements in terms of safety studies they have to run. they knew it was going to come. one thing, they're going to run a second cardiovascular outcomes

trial and that can cost up to $200 million. that may make people nervous they may have to raise money, is this going to take a long time to show outcomes. i talked with the ceo today and he told me that it might be a good thing they're going to have more outcomes data because it could lend help to their application for approval in type two diabetes ways lot of people think may be a bigger driver for this drug. it's been a real uphill bat. in obesity. this joins drugs arena and vivas which has missed expectations since launched. when these were approved they were billion dollar targets on them and people are expecting $150 million over the next two years. an perceinteresting part is nov today had an fda advisory panel meeting where the advisory panel recommended approval of their drug victosa for obesity. that shake up the puzzle too. it's weird when they have a drug

approved, the stock sinks 10%. >> did they miss the opportunity? is there not enough demand out there for this space? >> well, what people are saying is that there were so many safety concerns in the space, we remember fen fen, pulled from the market, doctors are scared to prescribe these drugs and kind of need to create a new market. what's interesting about orexigen out of the three obesity companies it has the most buys from analysts. arena with an average hold rating and vivas an average sell rating. the reason they like orexigen is because it's partnered, they have 900 sales reps they plan to sell the drug with and the only one of the three drugs not a dea scheduled substance. those they worry about you can get addicted potentially. those are scheduled. this you can give out samples. >> the partnership is the most powerful thing here. all the post marketing requirements scared a lot of people despite the fact they probably saw it coming. here's a stock with a huge short interest. it's had a munster sell-off. ridiculous sell-off. some of the things that can come from this are interesting. i think understanding the

voltity is going to be there you can own this stock right here. >> meg, thanks for coming by. appreciate it. >> thank you, guys. >> apple delaying the release of the i-phone 6 in china, causing trouble for the company. shares of the stock down this month and one analyst saying the new products are not enough. he joins us later this hour. and the burger battles heat up. all the details on mcdonald's and burger king's latests creations to bring in the masses. plus we play a little would you rather with the traders. love that game. more "fast" straight ahead. in a world that's changing faster than ever,

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today marks the 13th anniversary of the september 11th terrorist attacks. a number of ceremonies taking place across new york city one of which is cantor fitzgerald's

fourth annual charity day. mary tom sop is live from the event of the recap of the best moments. there were many best moments there. >> oh. it was a great day here as it always is. this is my second time covering this, and it's always a thrill. in large part because it's a great way to commemorate 9/11 and also because you get a chance to meet a lot of celebrities, sports celebrities and movie stars, et cetera. the firm raised $12 million raising the money because employees donated their day's salaries and because the firm donated the day's trading profits. clients who steered their trades to cantor got a little stiller and rock and roll. >> sex for the rest of this year. if you can do -- maybe for the rest of your life. if we can do a trade, okay. >> they don't want you to look cheap or anything, but go ahead. >> we can have a drink, talk about this some time. all right. we'll go for that. >> done. >> going back on the bounce.

>> we'll come back on the bounce for sure. all right. that's right. that's right. >> dr. ruth, of course, the celebrity sex expert, actor ben stiller and jon bon jovi joined by among others supermodel christy turlington and olympian bow di miller and new york great, new york, yankees great mariano rivera. in all the days, cantor has raised $113 million from its four charity days and the ten that have been executed by one of its businesses, bgc. the firm that lost the most, giving back a lot. so we're going to let ceo howard have the last word. >> it helps us turn the toughest day into something that's really beautiful. >> now over 100 charities benefit from the money raised on this charity day. one other thing i noted today that i didn't know before and i want to tell our audience again, melissa, is that cantor employs

41 children of its employees who died on 9/11. so there's a very strong legacy there and it was, i think, kind of eye opening and affirming to hear that number. back to you. >> mary thompson, great day, thank you. >> pete, you were there. >> i was there. a great opportunity. i'll tell you, there's nobody like steve buscemi. when you look back at this guy's career why he's tied to this, he was a fireman in new york from 1980 to 1984 and almost 20 years later at 9/11 he went back and volunteered for his firehouse, which was engine company 55. a great guy and the fact he's willing to come back and give back and not only with his money and time today, but he gave back, back when everything was as awful as it was down there. just an impressive day. >> the scars are deep on wall street in particular, we can all remember where we were exactly on that day. >> yeah. >> when that happened. >> i went down to ground zero today but i wases in moscow on 9/11 and, you know, remember

getting on to the trading floor of my firm and watching the first plane hit. it's one of these days where you want to say people kind of get numbed by the don't forget, but really, you just have to continue to hopper the memory of these people and everything that we need to stand for in response to that. so it's a big day. >> what we have done, just as a community, wall street and financial community where we have come from, that's staggering. >> wall street has always been an easy target. talk about people that give back and do amazing things like today you should take a closer look at what goes on on wall street. some of the best people out there. >> what cantor does for their employees, is incredible. and thank you to all the people who directed trades to them today. it's a tough day for everybody on wall street and you can feel it. you know, when you talk to people in the morning, on this day in particular, and well, it's just good that cantor did that. >> coming up next on "fast" all the hype leading up to apple's announcement not helping the stock this month.

one analyst says the new products are not enough. why right after the break. much more "fast" straight ahead. i make a lot of purchases for my business.

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♪ welcome back to "fast money" live at the nasdaq market site in new york city's times square. apple's launch of two iphones impress everyone.h failing to shares are still down since a week before the announcement despite the hype. downgrading the stock from out perform to sector perform saying the event did not provide any new profit drivers at the company. joining us on the fast line is the analyst that made the call. great to have you with us. >> thanks for having me. >> this is not going to do enough, you say, in terms of the phone side of the business which is apple's core business still, to stem the decline that you foresee in the coming years? yeah. funny thing to be honest, the phone is the most impressive part of the announcement to me, at least. we still see that 16 is going to be an issue in terms of continuing to add new users and in effect create accelerating growth. i think the multiple comes in

and a hard time getting the stock meaningfully higher. >> sounds like you're saying apple's best days in terms of the stock price may be over unless the incremental upside of an outperformance in terms of demand for the phone or watch? >> yeah. that's exactly what we're saying. and in the watch, i think or other new products in particular, because sort of regardless of what we see from the phone in the next couple quarters, i think you still have the issue of saturation facing you six months from now and that usually means decelerating or declining multiples. >> why cynical out to 2016 when we could have been sitting here in 2013 saying the same thing about the fall of 2014? effectively people were and the stock went twhoo nu a tank. for a cup that has continued to reinvent itself and today or yesterday in the last couple weeks have given us other reasons to believe alongside their hardware they are going to hook people into their ecosystem

through apple pay and the smartphone the smart home and all the other uses we can tie into the apple ecosystem? why so cynical when you were probably just as cynical in 2013 and that was proven wrong into this fall? >> so one of the things we've seen over the last few years is a decline in new user growth for the iphone. we have a couple years of trend and you can kind of pencil that forward and it becomes a big issue if you think they're going to gain a lot of share with the iphone 6 cycle because it's sort of accelerates the time saturation and makes for a harder comp, said simply. so it's not that we're any more cynical. it's just we see the combination of a couple years of trends with a multiple that's expanded pretty significantly in the last couple months that makes the risk/reward less attractive. >> want to ask about the watch because that's interesting in how you get the estimates.

you're estimating 30 million watches which based on your estimates for the iphone 6, just roughly we're saying one out of every six iphone 6 users will have a watch. how did you come up with that number? >> yeah. well first it's a total guess. >> okay. >> we used the base of iphone 5 and iphone 6 users and what we think that will be through the course of next year and we used just over 10% penetration. but it's something that we don't know until the thing comes out and see what consumer reaction to it is. >> we have to leave it there. thanks for phoning in. we appreciate it. andy of pack press who downgraded the stock after the product launches. one of the problems with the watch, he's saying, and many others are saying, is you -- the battery life is not there and you still have to be tethered to a phone. >> right. >> so you still have to have a phone and have this thing strapped to your wrist. >> the tethered and price.

i don't like the price at $350. >> a lot of money. >> and i'm not sure how successful that launch is going to be. i do agree on one thing. i think the iphone 6 and the 6 plus were the success of what they actually presented. >> which is good. because that's the bulk of their revenue. >> because it's the bulk of the revenue and i think tim's point we've talked about this a long time, the growth is not just in the u.s. and everybody kind of isolates here and where are they going to get market share. i think in china. people have been holding back and i think eventually that's going to be able to be an area when the capacity is there they will be able to sell a lot of phones over there. i think that's the incredible growth factor. >> want to ask if you thought the stock price best days were behind it, he said basically yes. >> $100 price target for the next year. wonder what the standard deviation is. get down to a level i'm looking and move. i don't know what the answer is. it hasn't done much since we started talking about it at these levels a week or so ago. i'm in the camp it makes it down to 88. pete and tim are in the camp of 110, we'll see what happens. >> everything we're talking

about is why we're going to be range bound here. everybody is confused what this means. you have to have an awful lot of vision to say apple pay or the watch is going to be a significant driver of revenue. over the next month you let the market digest it, see what wall street analysts are saying and then make a decision. >> time for pops and drops. movers of the day. a pop for u.s. steel up 5%. guy you've been all over this one. >> we've been on it. i know, you know, pete and tim have been on this as well. i still think there's further upside. it's crazy i know but they have pricing power and they've revamped the company specifically u.s. steel. seen other names move as well. >> pop for blackberry up 5% on news it is acquiring a mobile technology start-up. >> yeah. it doesn't sound like big news until you find out what they do. they actually allow you to have two phone numbers on the same phone. ever see those guys and gals with the blackberry and iphone, solves that problem. >> pop for pandora. licensing deal with emg. >> this is extending for

multiple years. huge for them. i think we all know it's all about content and this is something that locks in some of that content for the period of time. you still can't get your arms around this company because of the fact there is no p/e. because of that i think if you're going to be long this stock you have to do it through options. >> drop for alcoa down 2% despite signing a long-term contract with boeing. >> it's a contract we knew was going to happen so i think this is a bit of selling the fact. this is a company in some level reinvented themselves very kind of high performance, high alloy, hybrid metals these guys are working with to get away from allowance on an oversupplied aluminum industry is good for alcoa and why the stock has traded as high as it has. 17.50 is a tough level for this stock. >> too tasty developments coming to light as fast food chains fight for new customers. first from mcdonald's applying for a trademark on the term mcbrunch leading some to question whether mcdonald's is looking to expand its menu. in a statement to cnbc mcdonald's said we are not testing a mcbrunch concept.

it's premature to speculate about such a concept and from burger king a black cheeseburger launching in japan. the burger which includes a black bun, black cheese and sauce comes in two varieties. >> that is fresh. >> the pearl and diamond. diamond looks like it's hooked up with fixings and all that. >> it's hooked up. >> squinting. >> they had these before in japan. >> like the mcrib. >> exactly. >> it's the kuro. >> i mean -- >> until november. >> bk might be on a flight to tokyo. >> nope. >> let's talk about this trade. burger king? >> this is -- would you rather? >> yes. this is it. >> oh. >> this is it. your time. >> mcdonald's. >> burger king we like but you want today, where it closed beta, cafe mac how it bounced today. >> mcbrunch, so revolutionary. >> sounds like they do have something in the works because of the fact that they wanted to get this.

>> want to trademark mcdinner so they have to buy it from me. >> expand the me new and expand some of the how long they're going to serve breakfast. who knows what they will do with this. i'm with guy. i think -- >> mcbrunch, whatever. brunch is not going to transform them. not going to chase or chuck a lot of money at brunch. they're constantly throwing stuff at marketing. i'm buying it. going to mcbrunch on sunday. >> sure why not. >> bring the wife and kids. >> still ahead -- >> how cheap we are. >> that's the way we roll, tim. different way to play emerging markets. we talk to donald trump jr. about where in the world he's taking his high-end real estate business. he finds some unusual activity and tells us which stock traders have been crazy for after comments from one analyst. that's next. when change is in the air you see things in a whole new way.

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big day today? even bigger one tomorrow. csx. how tomorrow moves. time for some unusual activity. pete is watching white wave which is maybe not a surprise given the deals we've seen in the space. >> especially after the annie's deal we saw the other day on monday but then tuesday we suddenly had january 42 calls being bought in this game, white wave and then today further

being. jan 42 buzz the target. selling downside puts. what does that mean? somebody is a very aggressively positioning for the upside in this stock maybe to see if this thing either a takeout or the fact that they have been putting up good numbers. nine times the normal volume is very unusual and the calls to puts was extraordinary. >> did you get in on the trade? >> i tried to and missed it. >> high income construction picking up in the emerging markets. the trump organization breaking ground on projects to capitalize on growing demand giving us his a-game donald trump jr., the executive vice president. good to have you with us here. >> good to be here. >> high-end luxury in the emerging markets. what is fueling this? >> just starving demand. regardless of sort of what's happening in those economies on the grand scale there is a demand for the people who are the ultrarich who have traveled all over the world, seen what you can get in new york and london and why can't we get that in our own market. it doesn't necessarily mean the demand is huge and there's billions of people looking to do this but there is a very select

crowd that our brand happens to cater to that is looking for this development. >> which countries, what kinds of citys. >> a lot of the bread countries, a lot of developments in rio, hotel and residential front, a lot happening in india, in asia and southeast asia that we're looking at and seeing again we have to vet a lot of deals to make sure they're the right ones for us. there is a lot of crap being produced, sold as five star, that's not what we're looking to do. we have to find the best of the best. >> most of your dollars are going towards hotels not residential. >> correct. as we grow the brand and continue to do this the hotel sector has been huge with us. >> what are some of the speed bumps or hurd else that could crop up some what concerns you? >> there's a lot. i think transparency is a big one in any of these markets. with the fc pa stuff we have to deal with as americans playing on a very different playing field than probably the rest of the world. not saying that's wrong or whatever, but it is. being able to get in there, that said we're a unique enough

brand, well known enough on the real estate side and new enough in the hotel world it's a different flavor. not the same old hotel people stay in. wake up in the bahamas in hotel x and in london it's the same experience. we cater to that market. again in these entrepreneurial societies trump is really a name that stands out to them. >> you think the brand name differentiates you from the marriotts or jw marriotts of the world? i'm wondering how strong that brand is. there's a lawsuit concerning the bankruptcy of the atlantic city organization. >> right. >> clearly you're not involved in that, that the name is licensed. >> none whatsoever. we haven't been involved. we haven't been on the board in 20 years. >> your father filed a lawsuit to take the name off the property. there's concern about brand -- >> when something is not being run to the standard we expect, it does create a problem for us. we have to remove that there. that has nothing to do with the hotel company in terms of the -- what conventional hotel. that's the gaming company. we haven't had a board seat in years, haven't been involved in

ten years. it's just there in name and name alone. >> no concern people will open up the newspaper see trump, think of you and your family and it's the same to the them. they don't know how you're involved with it. >> we've done a good job making that distinctship. when people stay in the luxury hotels all over the world and the ones coming up they're two separate and distinct entities. >> interest rates, do you see them rising? does that impact your business? >> i think it does. that said, i think they've still been so artificially low for so long eventually we'll have to pay the piper. i don't think it would be good for the economy. i think the fed is understanding of that. that said, it can't go on forever. for our business we're cate attorney general a certain demographic. probably less painful to them. that said it still affects us. it's going to hurt the economy and when it hurts the economy everything is affected. >> thanks for coming by. >> my pleasure. >> thanks. >> brick countries your part of the world. >> i've been traveling the worlds doing emerging markets.

aspirational buying, your brand name holds true. you see it with the lvmhs, tiffany's, emerging markets, there's a market for it. that's why i think luxury names that we just mention ready worth opening and they're counter sick lacle despite rates going higher. >> popping on news of its deal with t-mobile, the ceo in a first on cnbc interview that's next. kid: hey dad, who was that man? dad: he's our broker. he helps looks after all our money. kid: do you pay him? dad: of course. kid: how much? dad: i don't know exactly. kid: what if you're not happy? does he have to pay you back? dad: nope. kid: why not?

dad: it doesn't work that way. kid: why not? vo: are you asking enough questions about the way your wealth is managed? wealth management at charles schwab

actually may, because of their user base, may actually be great competition for you on this front? >> i am -- i think we are the world's leading provider of arrow communication services. there's a lot in our business and specialize in aviation and we're -- we're going to try to

keep raising the bar and make it very tough for any competitors coming at us. >> all right. michael, we'll leave it there. thank you for phoning in. appreciate it. michael small, ceo of gogo. what do we do with this stuff? >> i think you have to own it. sounds crazy. you have to own it. verizon will do some partnership, joint venture, some headline will come out and take the stock higher again. the valuation is against all those things but you know how the stocks work. when the momentum gets behind them it's hard to stop them. >> aren't you concerned about at&t? >> i'm concerned about the rest of the world. that was the part that disappointed. global company and we want to see them 50 to 100 planes if they can get to that that's the key. i agree with guy, i think the stock is going higher. >> carnival cruise shares up 7%. one trader made a bet the stock could sink after earnings on the 24th. mike at the smart board with today's action. >> 22 times the average daily

put volume and all occurring on the october 36 puss expecting an 8.5% decline. take a look at the last ten earnings reports and they've disappointed a day, week and month afterwards and this will give them a month to play out after the earnings are announced. a big institutional trader making a bearish bet ahead of earnings. >> anybody trading in carnival, royal caribbean. >> loading the boat like this guy did. >> you are the worst. you are the worst sense of humor. >> i mean -- >> that wasn't so bad. >> i mean, you got a few on the desk. >> you know. >> i am not playing in any of those names right now personally. >> anyway. >> i know we don't have time. >> didn't you just go on a cruise. >> i did with my family. >> nice. >> all right. more options action every friday, tomorrow at 5:30. options action cnbc.com. stay tuned. ♪

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wow. >> time for the final trade. let's go around the horn. tim? >> 9/11 never forget. eem, you can buy the stock back at 40, goes a little low he and buy some next week after the fed. >> pete? >> hats off to cantor fitzgerald and the money they were able to raise. i think goldman sachs will go higher. >> bk. >> since talking about the banks, silicon valley bank. i bought some last week, bought a little more today. >> by the way, i said that you had the worst sense of humor. i was joking. i actually appreciate that brand of humor myself. >> that's the funniest joke i've heard all week. >> oh. >> guy? >> i'm going to look at a patronize here but donald trump jr. that was a good guess. >> that was great. >> nice job. >> young man. >> i mean you were -- you had some probing questions. nice job by him. >> you got a final trade for us? >> any time you're ready. >> that's fine. >> never forget 9/11 but forget

that song we bumped in because that was grim death. i don't know what that was. ♪ pump it >> lululemon, right, i'm telling you i like -- >> the bro mans is on. >> bromance is on. >> thanks for watching. see you tomorrow again at 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. 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 friends and i'm just trying to make you money. call me at 1-800-743-cnbc or tweet me @jimcramer. today's a first day. 13th anniversary