"fast money" coming up in a few second. melissa lee, what is on tap, young lady. >> yes, young man and young lady. a treatment for age-related maculer degeneration and, also, color blindness. so, we'll talk to him in the 5:00 hour. >> enjoy. >> see you tomorrow. "fast money" starts right now. overlooking new york city times square, i'm melissa lee. call of the day, a cautious move on tesla. why morgan stanley lowered estimates and cut delivery numbers before the big report. big bang. go goldman and citi getting ready to report why now is the time to buy the big global bank. intel coming in online on earnings while revenue fell short of estimates. stacy smith warning on weakening pc demand just moments ago on "closing bell." take a listen. >> our prediction for 2015 is that the pc market will be down

in the mid single digits. we think we're going to be down a little bit this year. a variety of reasons to that. a very good last year with the xp refresh and also seeing economic and currency volatility. as i think about the longer term for the pc market, we're planning for it to be more flat than a growth market. >> and waiting for the full-year guidance which they had pulled when they lowered their quarterly guidance and revenue is going to be flat and gross margins plus or minus a couple percent. >> pretty conservative all the way around. stacy smith, one thing he addressed is the idea of the pcs. everybody is talking about what do you think? an area where intel has exposure but growth areas are impressive, as well. when you talk about mobile, and that's where the growth is and where they're trying to move. a big ship they're trying to move. but those gross margins 60, 61, pretty impressive still, i think. >> gross margins may get a

benefit in the move and the 32 nano chip when you look at intel when they make the transactions, there are some hits and then as they back out 102 basis points of tail wind. i think the xf is largely priced in. i think the other side of this is intel is a company as we heard the rumors and talk of altera comes to mind, here is a company that is looking to make, i think, deals. but they're not going to do any deal and what we heard, also, where they care and what kind of price they would pay, which means not overpay. as a shareholder, that makes me very happy. a lot of bad news priced in here. i think the dip is interesting and i think the valuation is interesting. >> if i want to be an owner of a chip stock, those seem to be growing as opposed to, the leverage to the pc market which is pretty much a flat markt. >> i'm not sure where you really go from there. obviously, if you look at intel,

so tied to the pc market, as you just said. i don't think they can turn the ship around. a couple things that are head winds. you have the yield. if rates start to increase, they're going to get hit, again. they've already gotten hit. old tech became new tech and i don't know if they get a lifeline here. just one second. the support levels that tim talked about, you are really budding up against the support levels. go down even 27.5 if you have to go way back, you get a 27.5 support in the name. i can see how guys would want to take a flier out, i just don't know where the growth regions. i hear what pete's saying but it's hard press to say it's a growth spot. >> data center is growing at 19% a year. that's really, we know in and of itself not just for intel but as a secular story a growth industry anyway. internet of things, still growing. small for them. that, again, a growth area. if they can go out, i think what tim said is really important. they're going to go out and buy

growth, if they have to. a nice dividend and you've seen the stock bounce off 29. it dealt with some bad news. to me the next quarter, a lot of runway here. trading 32.10. >> if they decide to jump on something like altera, again, though, they lose their discipline is that disappointing or actually open up something. i think it opens up something for them. i think there's room if they decide to get back. >> i think it focused on the shareholder. news for people who think the company is not trying as hard as they would like to. >> bring in managing director doug freeman live in san francisco. doug, great to have you with us. what did you make of the quarter overall and what do you recommend tomorrow morning if clients buy intel? >> when looking at the quarter i would start with saying, first of all, the news is definitely better than expected. the dproesz margin is being guided up in the second quarter is really quite a nice surprise. the other surprise was the capital equipment cut where they cut cap x down to 8.7.

that really drives increased cash flow. that's what investors are really looking for right now. >> so, what does that mean? i mean, better than, better than low expectations. what is the bottom line there, doug? >> the bottom line is the stock is definitely looking very attractive in the low 30s at this point. >> what do they need to do from this point on? i mean we are talking here on the desk about possible mna activity. because we're going to start losing visibility, also, into their mobile business when they combine that with the pc group, right? so, what are we looking for here? >> that's correct. so, what we're looking for is really, i think, investors need to move away from this fact that the pc side of the market is contracting. you heard stacy talk about they think it's a long-term flat business. i would say investors. i think actually it's declining business. low single digits. down to 5%. the first year looking at the data sector and seeing the

growth opportunity that they have to service the data center and then separately, let's try to erase some of the losses in mobile. i mean, they were losing $4 billion last year in mobile. that really can't continue. you're correct. putting it into the pc number, that's going to help it sort of go away. but that's not really going away. the key is going to be for them to actually have some mobile wins, ramp that business up. there's a potential for them to do that. on the foundry side, some opportunities on foundry. but, honestly, it's very hard for a company's size of intel to go out and merge their way into growth. their buy growth, as you should say. i would say if we look at the data center, 15% year-on-year growth. that's an impressive number. to a business, that's pretty big. that business in two to three years will contribute more profits to intel than the pc business. >> what's the read through, just quickly, doug? 20 seconds. >> the real read through here for us is if you look at what's happening in the pc market, i

would say memory stocks have been beaten up on the fact that the pc market was very weak. it's clear intel overshipped. really quickly, the derivative i would be playing is some of the memory names. we still like micron here. >> doug, we'll leave it there. thank you so much. >> doug freeman. micron, that's an interesting one. >> they're relying on d-ramp prices. we've been saying it for months now, we thought micron was a buy below $30. unfortunately, it kept going lower. if you think you're seeing a trough here in intel and pc, take another look at micron. back to pc, $35 billion worth of revenue, last year was revenue and $15 billion was the data centers. you better really believe that it's moving sideways and not lower. sideways i can deal with. lower, you'll still sell intel. >> if you look at micron. great risk. you know ethe $26, $27 has been

support for almost a whole, a year's worth of support there. so, i've got a dollar or two risk for an upside of anywhere close to 33, 34. i think it's a great buy. >> you take a look at the memory names and go into drives. a westernsal as well as c gate. lots of positive comitary on this sector because also beaten down. >> people just totally worried about margins. so, again, it's like a lot of things. if you get a basing in that margin pressure, a place to start looking that stocks. i think it gets back to intel has a lot of interesting things going on. what they said. they don't have to do a deal, is what they said. cfx is moving higher. cnbc morgan brennan is back at headquarters with the story. morgan? >> csx reporting earnings of 45 cents a share. $0.03 billion and also narrowly popping expectations. operating ratio which is a key

measurement for railroads. slightly better than expected though volumes were a bit soft. it experienced growth across many markets, plus, stronger pricing. that off-set head winds from cheaper natural gas and the strong dollar which weighed on coal to lesser extent metal shipments. the company announcing a share and a 13% quarterly dividend hike to 18 cents, that's effective june. taking a look at shares of csx. those are trading up almost 3% in after hours. back to you. >> thank you, morgan. another case here, guys of a company that had been beaten down because expectations had been so low? >> i absolutely think so. the cfo from csx talked about this in early march. talked about coal. just like we heard from the rest of these guys in the rail industry those tied to coal right now, major problem. but it was priced in. that's why you're seeing the reaction you're seeing tonight. >> today's movement is

extraordinary. we closed friday today on the nsx and follow through, you actually had a case where it was csx and down almost 6.5% from that move. and it started to price that back in. it's been thousand cuts and csx has proven that it is a fanta fantastfantas fantastic balance sheet and they were priced. the reaffirmation you got in march is what you should have listened to going into this number. our call of the day on tesla. behind that call and why the firm is keeping its overweight rating. plus, trading the range. earning season kicks into high gear and later on bank of america, citi and goldman to report earnings this week. why right now is the time to buy the global finances. stay tuned.

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stocks could be headed for more trouble. wells fargo forecasting april's revenue will get hit harder than it previously expected slowing casino traffic last week. >> they did. the limited visitations is a possibility. there's all kind of things whether it's go across the

board, credit suisse, everybody is negative on these and seems to be making sense because we're seeing the slow down at an extreme level that might not really correct itself as we get towards the fall. you look at wynn, but not perform right now. >> las vegas sands is not necessarily down. i think that's one that gets thrown in out with the bath water. >> people are not distinguishing between vegas and we have to distinguish where they are on a look back and going forward. you have to be really careful. they are not. >> well, when you look at las vegas sands, that's one i thought you could buy probably close to the 53 we said it a couple weeks ago. we still think. i know people aren't distinguishing and you should with las vegas sands, but very hard with these numbers for any of these names, particularly las vegas to get out of the way. unless it gets back down to 52, that's where your risk areward is best. >> 70% to 80% of its revenues

are from las vegas, why can't we make that differentiation? >> the market. >> the market is going to throw it out. that's why at 52, it's probably a buy. avon products soaring today. product up 14% on reports that it is exploring strategic alternatives. this comes after news last night that avon products is postponing its analyst day until the fall. team, if i recall, this was a stock that made you fear fast and furious. >> i was fast, but i was really furious. i was hacked off. i'll save the profane comments. here's the point. i was angry because avon has abandoned their core markets. latin america, brazil, especially in favor of north america which has been causing the company to lose its focus. the news they postpone and there is rumors and talk and they themselves have acknowledged discussions that they might be untalks to sell part of their business. which i'm hearing is north america.

what did it bring in last year, $2.2 billion. not a lot of people good fit for that. anway has a huge brand in china. largely irrelevant. avon to partner with these guys. if this happens, very good news for the stocks. stock, obviously, reacted to that today. and i'd like to see the continued development of this whole story, which is focus on em. >> i'm surprised you didn't use this pop to cut your losses. >> if truly a turn around here and it all depends on how much they're selling this for. it's actually very, very cheap. time for our call of the day here and it's tesla. the stock getting hit as adam jonas says he expects a wider loss thun first quarter. puts 2015 earning estimates at a loss of 2.30. versus consensus of earnings of 58 cents. despite slashing estimates, jonas maintains overweight raining and the $280 price

target on the stock. just out of curiosity, we went to bank of america, which has a sell rating on the stock and expecting 95 cents for 2015 and has an underperform rating in a $65 price target. so, almost like living in an opposite world here where adam jonas has an overweight rating and well below and the sell rating guy has eps estimates. that is above consensus. >> is it really when you think about a stock that people are not looking that present. as if our earnings don't matter. modeled after 2020, almost like a discounted cash flow model. so, this is my big criticism of how tesla is covered. company is a great company and a great piece of technology, but should not be valued where it is. >> also an example of a software that everybody is going up to 2020. but at the same time the stock trades on a minute-to-minute basis.

>> on tweets. >> exactly. on incremental information. >> couple years ago in the 6,000 range that you were looking at production levels, 31,000 and now shooting for 55,000. everyone got overly optimistic the last couple weeks or months about the stock. they're losing china as their growth engine and cut back on margins. i don't know if you dip into the stock now a lot more competition coming around the pipe. >> let's look at the stock over the next 20 days or so. we have april 30th and we know some kind of announcement and we have the earnings coming out. so, there's a couple things here that at the very least should keep a bid under the stock. i think if you get a shot to buy this at $200 over the next couple days, it's worth a trade. >> the best way to play this thing is through the options. >> not cheap. >> the volatility. you have to keep an eye on implied volatility of what's no normal. people are expecting violent

moves. trading low 50s and usually in the 30s. >> less faith in the stock. >> pretty extreme. this two weeks ago, it was below. coming up next, some unusual moves in big cap oil. pete has the integrated stock bullish activity and we have the name and we come right back. plus big reports from goldman and citi on top. "fast money" is back in two.

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so you can live the way you live, and enjoy all the rewards. chase sapphire preferred. so you can. time for some unusual activity here and pete is integrated on exxon mobil. second day in a row of major activity. bullish activity. >> we decided why not cover it, again.

yesterday 50,000 of the may calls were bought. we had activity in chevron and now seeing it in exxon and other energy space. other integrated names, very interesting. everything is short term and they are trading options that will expire on friday. the 87.5 calls and the 88 calls that really grabbed us today. over 11,000 far exceeding the open interest. just incredible what's going on now in exxon mobil and the stock is providing. those 50,000 they bought yesterday for 32 cents. traded at 70 cents today. not such a bad rate of return when you get that yesterday afternoon and we get tatoday and get towards 70 cents. exxon, chevron, conoco. >> seems to be finding some footing here. >> you start to get support here and guys are willing to take that gamble and we talked about it for a couple days now. that correlation after the march meeting. you wound up having that dollar strength equals oil weakness. that was off the table here. but i still think the service name. if you look at a halliburton or

a baker hughes and you'll see they're up 17, 18% year to date and guys are coming out of the service names. tim made his way over to the smart board and watching the s&p 500. tim? >> going into earning season, a lot of people felt that the s&p had pressure and felt it had pressure for a couple reasons. all the things we talk about fundamentally and key levels. the 20, this is the 15 in gray and the 20 in yellow. but this is really what's been your resistance. it was your resistance until we broke through in mid-february on the rally that took the s&p up to the highs well past 2,100. now what was resistance all the way through is now support. what's interesting here. right here we have the 20 and the moving day and the 50 converging. a lot of people feel this is a very important pressure point for the s&p. that, in fact, we do break through. very little to catch you other than a 2040 level which is right around here and then all the way down to the $200 million which

is around 2018. when i talk about the s&p right now. i have to talk about other global markets that might do better. that's what this is. waking for an emerging or break up relative of the s&p, i believe that earning season will give you that shot. either way, we closed above it and a very key level over the last couple weeks and watch that level. very interesting how the 20 and 50 have converged. >> the important thing to watch for is the notion that very short-term momentum is actually dwindling. the 20 day could be going below the 50 day. >> correct. you're seeing the 20 come down and pushing the levels and at a point where it's now really pushing and push it through the medium term on the 50. a couple bad earnings and that's a big other question. from a technical perspective one way or the other. >> i agree. same charts he's looking at. if you look at the resistance that has been 2120 in the s&p

cash. we're basically a percent and a half away from that all-time highs. your risk reward here of falling back down and sliding back down in the cash is much greater than buying them here close to these highs. 2120. we have to break through that. >> u.s. markets here or else where? >> if i only had to buy, i would buy emerging markets eem. however, we talked about it last night, i would watch out for europe for a reversal because you've had such a tremendous run in there. that could be what sparks the sell-off that tim is talking about. coming up next, intel up after hours although off its highs missing on revenue and the earnings call officially halfway through. bring you the latest headlines and the trades after the break. later the ceo of biotech company avalanche. we're talking to you, pete, who is, by the way, color blind. would you get a shot in the eye if you could see color? stick around, back in two. you can call me shallow...

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still ahead on "fast money" out of new york city times square. intel matching on earnings, missing on revenue. the conference call halfway through and how traders are playing the move, straight ahead. bank of america out tomorrow

and goldman, citi on thursday. take your position ahead of those key reports. the biotech play that is capitalizing on eye diseases. find out what the company has to say later on in the show. the intel earnings call now well under way. josh joins us with the highlights. josh? >> well, melissa, intel stock edging higher here in the after hours, but it has been a tough year for intel's shareholders. lots of concern, of course, about the outlook for pcs. on the conference call, intel ceo gave us that outlook. take a listen. >> we expect the pc market to remain challenging. leading to a mid single digit decline in the pc. that said, we are excited about the launch of our microprocessors and the capabilities they will enable on a variety of operating systems. >> now, intel's ceo went on to

say that he was, in his words, enthusiastic about windows 10, microsoft new version of its operating system set to launch later this year. of course, that's part of the bull thesis here that when windows 10 does launch, perhaps that creates a pickup in pc demand in the back half of the year. melissa, back to you. >> thanks so much, josh. again, off the highs in the after hour sessions. you still think it's a buy, correct? >> isn't this another update of information we needed to hear from the company. now after we had all these destructive first quarter comments on the pc and the dollar this gives you confidence to know the company is well on track. earning season ramping up. two major banks reporting stronger than expected quarterly reports. first jpmorgan announcing its profit of 1.45. shares of wells fargo closing lower. that bank fell from a year ago as expenses rose and also set aside more money to cover bad loans. jeff joins us from chicago.

jeff, great to have you with us. people love to extrapulate based on bank earnings and you actually say you can't extrappi extrappialate. why? >> historically it seems jpmorgan starts with a bang and dozen get as good for banks later. a few things we could take that should extrappialate out. two, the traditional bank businesses, the spread lending businesses. maybe a lot tougher than we thought. we knew it was tough out there. what we saw from jpmorgan, may be even tougher. scale matters and jpmorgan has it. they were able to offset some interest margin pressure by bringing expenses down. i think that puts where i'm looking for the rest of earning see if you have a lot of capital markets and big banks that has scale, you should do pretty

well. looking for citigroup and bank of america tomorrow will be interesting because there are more traditional bank centric. the part of the business that is suffering is a bigger business for them. it is still, nonetheless, a good earning season for the big banks there. >> when wells fargo reported and it was the difficulty in interest margins, you saw a lot of the regional banks come off. in terms of your expectations from bank of america or pnc or the banks that have the more traditional bank lending businesses more exposed to that area. you said bank of america is going to be interesting. what does that mean? does it mean it will be lumpy with this part of the business? >> bank of america, almost half their revenues come from that interest income. more of a spread-based bank than some of the other money centers. they have merrill lynch which is an investment platform. if you're a bank that real ea doesn't have capital markets and, you know, you kind of pull as many expense leverage you

can, the environment is getting awfully tough. some of the banks like jpmorgan, citi. they have the expense lever. scale matters more now than ever. we're starting to see the advantage of it. >> looking forward in terms of investment banks, goldman sachs is coming out later in the week. i know you sounded positive about that. what are you looking for in terms of their earnings that will impress or depress you? >> pretty good in the first quarter and pretty bad in a year ago first quarter. for goldman sachs a big player. they had a really good year last year for announcements. also in trading. the way trading has gone. you want to be in the mackerel products. interest rates, currencies and maybe not so much in spreads like credit trading and mortgages. goldman is a leader in all of them. in almost any market, they have a good trading mix of revenues, but specifically now. we should hear from them on

frooild that their banking business is good. their trading business is good and then the key then will be what is the outlook? it's hard not to be bullish on investment trading. i think people are still a little nervous about it. >> jeff, brian kelly. if i'm looking to get in tomorrow morning to some of these banks or something with a capital market side, should i look at it this way where, you know, nims are going to stay relatively flat. it's going to be a tough operating environment and if i see volatility in the equity markets in the fixed income markets, then that's good for goldman sachs. if i don't see that, then i should sell goldman sachs? >> volatility is a good thing for trading. now, i don't mean, you know, volatility that spikes one day and disappears. the volatility we had this year would be good. to be bullish in the investment banks here, you want investment banking momentum to continue and i think specifically to start seeing it go from mega deals down am to some smaller deals. kind of see that transition take place and keep seeing some intra

day volatility. that would warm up to say a goldman sachs or morgans stanle is what i like the best. not only coming intathis week with earnings but going into the rest of the year. >> going to leave it there. thanks for your time. >> always good to see you. banks. let's take a position ahead of these earnings. >> bank of america for me has been the lagger and, as jeff just said, depending on the steepening of the yield curve and that seems unlikely right now. you'll see it underperform but it seems to be building a base here for me. i'd rather be betting on that than a flat on year jpmorgan or a goldman sachs. >> right around 15, 20, i think you've seen the stock bounce a couple times. for me, citibank. citi so much operating leverage. i think people have over done the impact and i know 50% plus

of the revenue comes from abroad and to think these guys are not hedging that exposure. people are missing their capital position is far umproved and being more aggressive and gotten some of the regulatory monkey off their back. look, it challenges its tests at 50 bucks a hand going into the numbers, citi is the one. >> do we stick with jamie dimon. >> i'm asking a question. >> some bank. >> not necessarily. >> i think there is always opportunities in these banks. talk about the trading mix. they're absolutely killing it. they continue to have such a great mix. that's why that mega bank still works. i think it can go higher. >> time for pops and drops. big movers of the day. up 5%. tim? >> at a time when the commodities are falling we are seeing businesses outside and doing a couple things, including partnering with accenture.

>> any kind of pop you see in this stock. uts going to be weak and it's going to be weak on oil and weak on capx and still reduction cuts coming down the pak. i would stay clear at chesapeake. >> kind of a strange day here. one of their executives accidentally e-mailed sales data to an analyst on the street. stock that was kind of all over the place here, but what's interesting is to close lower down 3% and the sales data was pretty good. for me, that's a warning sign that people are getting out here and i'd be taking profits. >> gaining some market share and i think this exposure level that you're looking at routh now. the apple 6 and 6 plus is great. what kind of deals did they have to make for that? previousi previous earnings down 6%. right now still a no touch. i think you have to stay away. still ahead, one biotech firm fighting to cure blindness. we talked to the ceo of avalanche biotechnologies in a

cnbc exclusive. taking off moments aago after a 24-hour delay. we have the details on that launch, after this.

welcome back to "fast

money." shares of biotech higher after testing treatments with eye sight and balance problems oftentimes associated with the disease. now, it's meant to targt and repair something that helps to protect the nervous sustm. the company says it looks forward to the study eand results of a separate phase two of the drug for separate ms symptoms. those results expected in 2016. back over to you. pete in biotech, where do you go? >> i love the big four. i love cellgen and amigen you'll get a yield on top of it. every time somebody wants to hate on these names, it's an opportunity. bouncing off of certain levels. 50-day moving average. bounced routh off. >> the health care. one biotech is out to make color blindness a thing of the past. avalanche is working for the first ever deficiency for the treatment that affects 10 million people in the united

states alone. the stock has been under pressure. the ibb since the beginning of the year. let's bring in the founder and ceo of avalanche and also joining us cnbc biotech reporter meg terrell. thomas, thanks for joining us. we appreciate it. we were talking about the color blindness streeme nesness treatl get to. a much bigger drug, potentially. can you tell us about that? because this is actually an improvement on already existing treatments on the market. >> that's right. so, today patients are treated with therapies called and that blocks what causes blindness. one of the shortcomings of what is coming today. patients need to get a shot into their eyeball every four weeks to eight weeks for the rest of their lives and what we're trying to do is introduce a one-time treatment that can be transformative for patients by giving them the opportunity to comply with medication and, therefore, preserve vision for

the long term. >> how does it work? the treatment that requires a lot more shots. a couple of the leading ones, you're actually partnerred with regenron. >> that's right. so, we're very proud to be partnered as one of the leaders in space bringing together two leaders in optumology will enable us to do a lot of wonderful things together. this is a research and development focus recollaboration. at this point, they don't have any rights to ava101, our lead product. they have the lead product to negotiate and obtain rights to that product. we think that if we do decide to partner in the future, what a great partner and the collaboration is going very well so far. we're talking about gene therapy here and we had mark on and the idea of that with potentially one treatment you could cure. data that people are accepting and william blair said if you

see the same results you saw in phase one translated to phase two. you can see 100% upside to your stock. clearly, a lot of people anticipating that. but, do you have to see a cure for doctors to adopt this or just work better than the current therapies? >> we certainly saw great data in our phase one study and we are moving forward very much looking forward to the data in the middle of this year from the phase 2a. we think ava101 could be transformative for patients. what we're really focused on, is the drug safe and what can we continue to learn? >> is it going to be four times as expensive as the treatments already on the markets? >> i think it's early at this point to talk about pricing. but with 150,000 new amd patients every single year in the u.s., we know it's going to be a very big product and deliver value for patients and we allow them, bring them a therapy that really helped save their vision, we think that would be a great thing for patients and for our shareholders. >> i want to switch fweers to

the color blindness treatment. i was chatting with megthis afternoon and i was saying, oh, meg, do we really need to get treatment for color blindness and she made a good point that in certain professions you cannot be in those professions if you are color blind. this could be, there could be a demand for this. >> that's right. there are more than 10 million patients, just in the u.s. >> two potential ones here, actually. steve grasso. >> i'm red green. good to have a trader that doesn't know red/green. >> see a problem that. >> we live in a color coded world and there are color signals all around us. and so people have difficulty doing things every day in their day-to-day lives and occupations like being a pilot. a lot of military occupations. being electrical engineer or being an artist or interior designer. people really struggle with not being able to see color. when you think about color vision deficiency or color

blindness not well understood that people see only about 1% of the total color discrimination that most normal humans have. and, so, it is quite limiting in terms of a visual sensation that is missing. >> this is also a one shot in the eyeball sort of thing. >> which sounds bad. >> which sounds awful. i mean, really. >> i'm out. >> this would be a simple procedure that's done millions of times in the u.s. every day. >> on purpose? >> for example, fa simple injection to the eye. it will be very well tolerated for patients. >> tom, unfortunately, we have to leave it there. fascinating stuff you are developing. important data coming out, too. let's trade this. we're joking around about the shots in the eye, but if you're faced with the prospect of blindinous, you're going to get the shots in the eye. i'm sorry. >> delivery of medicine. obviously a win/win. if you look at the stock, you're

running into a little bit of resistance here. 41.5 is resistance and the upside is a greater value to the name at this level. >> yeah. >> a couple weeks ago when we had the big biotech selloff getting down to the 340 level and don't panic there. now back up to 160. if you want to take some profits. not a bad place to take off a third of your biotech and wait and see. has to break through the 360 level for that trend to resume. spaceex rocket launching carrying a pay load of supplies bound to the international space station. the launch was initially delayed yesterday due to the weather. the big test came after the launch when the reusable portion of the rocket attempted to land on a platform in the atlantic ocean. while the rocket landed on the platform, the landing was too hard for its survival. all right, coming up netflix set to report earnings tomorrow. what will it mean for competitor

amazon. we're breaking down the numbers, that's next. time and sales data.

split second stats. it's so close to the options floor. you'll bust your brain-box. all on thinkorswim. from td ameritrade shares of 21st century fox

have fallen 11% since the start of the year but betting on a huge move by the start of 2016. mike is in austin with the action. >> expecting a move of about 3.5% on earnings which they're due to report on may 6th. what was interesting in the options market where we saw 8 times the daily volume was substantial upside call buying of the january 42 call for about 40 cents. if you held those calls all the way to expiration, the stock would need to be up at least 25% just to break even. also interesting, is about a year from now, also in this week in april, someone bought about 10,000 of those same calls. one other point i would quickly make if the stock rallies even a small amount thun meantime, this is a way to make a bullish bet even if the stock doesn't get that high. >> more options actions check out on friday at 5:30s. this week starting a new segment called ask ken sho.

a minority stake in ken sho. economic report and global data and product launches. now, today steve grasso had a question for ken sho. netflix reporting tomorrow, how does amazon perform when netflix beats earnings estimates. netflix missed three times. out of 43 beats, netflix traded positive almost 46% of the time with an average return of 1.65%. now, let's take a look at amazon. according to ken sho. it trades positively, about 49% of the time the day after netflix with an average return of just under 1%. now, we ask grasso. what did you do with that? >> amazon is up 24% year to date. netflix is up 40% year to date. enough similarities you can overlay the two. i would be more positive on netflix than i am on amazon going forward. but they seem pretty much unline. >> why not be positive on ama n

amazon? >> technically amazon issic looilo looking like it's running around resistance around the 380 mark. even if it's incrementally lower highs, still, nonetheless, lower highs. it looks likets running out of gas, just a little bit here. look for support around 3.75, $3.70. with an upside seems pretty limited. >> i understand the desire to want to see a relationship of some sort between amazon and t netflix, but their businesses are very different. >> if you want to see what we can do, he showed us that last quarter. that's what i hang my hat on, too. >> a lot of investors and trading firms and tech focused. people trade these same two names because the momentum and volatility in the names is very similar. >> now your turn to ask ken sho questions. send us a message on facebook and we'll feature the first

question and answer tomorrow on the show. so, if you've got a question for ken sho you can ask ken sho. >> this will be like bob's big boy. >> he's taller than i thought he would be. >> anyway, coming up on "mad money" tonight cramer's exclusive on zillow. when cramer asked if they're losing business to the competition. >> no, i don't think that competitive changes have impacted the business. what's happened, really, during the prolonged ftc review process, the truly at core business lost a little momentum unterms of audience growth and ad sales. we made the necessary changes to reignite that momentum and i'm confident that the core story, the thesis is in tact. >> the full interview just moments away. top of the hour on "mad money" with jim cramer. stay tuned.

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then we'll give you the tools to help you manage, screen, and rank your applicants, all so you can find the right one. try zip recruiter for free today. take a look at a chart of intel in the after hour session. intel coming off with earnings. still up just about 3%.

revenues was a miss for the first quarter. for the full year, though, revenues will be flat and gross margins 61% plus or minus. first trade tomorrow pete, what would you do with intel? >> i'd be a buyer. i'm with tim. i like this name and think it will go higher. now, final trade. tim? >> let me do that trade. you also have a company that is doing their best for shareholders margins possibly improve. >> these energy names are absolutely outrageous right now. exxon mobil, tough to deny. i think it is going a lot higher. >> are you going to give me a -- >> we saw some weakness in the dollar today because of retail sales and some weak economic data in the u.s. and the fed you can get weaker dollar. that's good for gold. gdl or gdx is another way to play. >> grasso? >> we talked about it in the middle of the show, bank of america the underperformer in the space. down 11% or so going into the print tomorrow.

i would be a buyer of this. the risk to the downside is limited and upside potential. >> i'm melissa lee, thanks so much for watching. meantime, don't go >> 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. my job is to educate and teach. so call me at 1-800-743-cnbc or tweet me at jim cramer. lots of times when i'm responding to a person who asks