walmart's video on demand service. >> you plug it into the hdmi port of your television. you immediately can start browsing movies and shows featured in the vudu movie platform. >> the device also represents a simple way for walmart to convert its dvd customers over to streaming. and while toggle may be taking on competitors like roku or chromecast johnson says the business model is what makes them a standout. >> our biggest differentiator from a company standpoint is that we partner with the distribution. we can actually be featured really prominently within a walmart or within whatever partner that we're working with. >> toggle has three adpigs digsal deals in the works this year. so as the streaming wars heat up the startup is well positioned to compete. >> all right. thank you, kate rogers. that does it for us on "closing bell." see you tomorrow. "fast money" starts right now. and hello, everybody. "fast money" does indeed start right now. we're live from the nasdaq marketsite overlooking new york's times square.

i'm mandy drury sitting in for melissa lee. hello, everybody. our traders on the desk are tim seymour, pete najarian steve grasso and guy adami. tonight on "fast" after blowing past $600 a share could netflix jump another 45%? the analyst who just slapped a $950 target on that stock will be joining us live for our call of the day ahead. plus missed the ipo boom? well, relax because we've got a special report on why three previous ipos may be worth another look for your portfolio. but first, to the record rally on the street. you have the nasdaq the small caps, even the mid caps hitting another record today, with the dow closing up another 100-plus points. so that really begs the question, is greece baked into the rally? guy adami, we'll start with you. >> certainly appears that way. we've talked about the transports, 150 sort of being the line in the sand. effectively that's where it bounced today. the russell, the iwm said as long as it holds 121 the broader market rally would be intact. that's what's taking place.

tim talked about getting long fez on friday to play this greek drama. we talked about deutsche bank, the potential for that stock to bounce. it would appear as if most outcomes are baked in. >> the way we have it now, the way we see greece that's baked in because we haven't made a new high, haven't made a new low. we're still in this trading range but i do think that greece the final outcome, whatever niebl outcome might be is baked in. there's no way to tell. it's like saying when we eventually raise rates what is that going to look like? i don't think so just yet. heading into the summer i don't think it's all baked in just yet. >> a lot of people i speak to say we're going to be talking about this exact whole problem in six months' time from now. >> there are so many dates to think about also. you get into july 20th. if they don't get anything done by the month end they will not technically be involved they will not have made their imf payment but then they owe 3.5 billion to the ecb july 20th. that could led the rating agencies to push them down. but back to the trade because i don't think you price it in anywhere near where you should be if they get a deal in europe.

so you you sa the rally on the dax, talked about the euro stocks 50. you can play that with the f.e.z. if you look at the european stocks, especially the european banks they've taken it on the chin. athens itself which you can trade through the efgrk is still way oft niez january when things looked very very bleak. the euro is how you play it right now. i think the euro's been strong artificially because of short cover and it's been a funding vehicle and i would be short the euro. you can do that through eul. >> i think as we get more comfortable with the idea and there's concessions that greece at least laid out for now make people feel a little more comfortable there's going to be some kind of deal but don't look past the fact that these financials continue to rock to the up side as well and i'm talking about the u.s. i'm not talking about going overseas. look at the way jpmorgan's trading. look at goldman sachs hitting new highs. when you look at these financials, citigroup included they really have been bursting out. then you look into the health care sector. you look at the ibb in terms of the biotechs themselves. new highs again today. i think there are all kinds of areas in the u.s. that you can still be if you're not

comfortable going over to europe. i like some of these european banks. i think the u.s. banks actually can outperform. >> let's get to athens now to our chief international correspondent, michelle caruso-cabrera, who is live on the ground with the latest on emergency talks over a possible rescue package for greece. michelle, what are we hearing? >> well we're waiting for -- even though it's very late you can see it's midnight here in athens. in brulsz it's an hour earlier. we're waiting for this final meeting of the day to break up and actually hear from participants. earlier today when we first got the positive news was the finance ministers, then deep into the night now. we've seen the eurozone leaders, the prime ministers and the prntsz have a very long meeting. we'll see if alexis sipras says something. the greek prime minister. did they offer anything to alexis tsipras in order to bring him to the table? could they confirm 9 possibility? maybe actually could it be we actually get a deal later on this week? we started to see details leak

out of what the greeks offered late last night and early this morning to the european creditors. are we going to see negative reactions on the streets of athens as a result of them starting to cross those red lines, asking pensioners to give more? actually raising taxes again, things they promised they wouldn't do but they very well have to do in order to get -- you guys talked about this a little bit. they're going to get maybe 7 billion euros now that helps them pay the imf, pay the ecb in july, and then they still don't have enough money to participate bills of the operations of the government. so they're going to be back at this maybe in september. talking about another bailout. this is all perhaps a big dress rehearsal. >> a dress rehearsal that keeps on going and going. thank you very much. michelle krewe cruise a&e xwrera. i'm sure we'll get back to you if you hear anything more. in the meantime more on the market ral plip let's bring in kens gartman, editor and publisher of the gartman letter. good to speak with you once again, sir. i know you believe greece will

ultimately remain in the eurozone but why do you think that would be bad for greece? >> well i think it actually would be terrible for greece. i think this is very good for germany. i think the only reason greece is going to remain in the euro is because the germans want them there. germany needs to keep greece and the other lesser nations of europe involved in the euro to keep the euro weaker than it would otherwise be. as anybody would rationally say, a euro without greece would be demonstrably more expensive. it would be deleterious to the german export industries. germany knows that. the german leaders know that. theis and croup, daimler, bmw, they all know that. the german people may not like the notion. they may be opposed to keeping their greek brethren in and bailing them out. but the german industry and the german leaders know there's no other choice. they need to keep greece in they needed to keep the euro otherwise weak, and that's what's going to end up happening. i think tim is absolutely right. the euro is in very severe trouble. i think it heads much lower.

on the other hand this is enormously beneficial to the european stock markets. and relatively it's beneficial to our stock market. sell euros, buy dax, sell euros buy the cac, sell euros, buy the italian stock market. sell euros, buy the greek stock market. that's the trade for the next six months or so. >> dennis it's tim. i agree with you. therefore, as we talk about the currencies, let's get back to the dollar then because as we've seen the dollar and the euro are essentially inversely correlated to each other. yet the dollar has. trading sideways. i'm curious where you are on the dollar trade right here because the assumption i have here is the euro's been heavily short covered and there's a lot of funding behind the euro that's why it's at least been stronger. i think the dollar breaks out which then i think puts a lot of pressure on commodities, your back yard. >> well i think -- timmy, i've maintained on this program many times i think we're only in like the third or fourth inning of a nine-inning ball game as far as a vongstronger u.s. dollar is concerned. our monetary authorities are going to be tightening.

the european authorities, japanese authorities are no choice but to continue to ease monetary policy. all things being equal, the dollar continues to rise. and all things being equal, if the dollar continues to rise that will tend to be detrimental to commodity prices. some commodity prices may rally. cotton may rally. some of the grains may rally. but it's very difficult to get a rally ute of the precious metals. it's very difficult to get a rally in that circumstance out of copper, the base metals and perhaps even it will be deleterious to crude oil prices on balance. >> so dennis today i saw crude just on a daily basis on a granular level, saw crude spiking to the close. that's just the rolling over to the next month in your opinion. and also when you start to get a sniff of a little bit of m&a in the commodity market or in the energy space, where do you feel crude is accurately priced? taking it to tim's point about the dollar. $60. where are you looking at for your next -- i know you like to live in increments on the crude market. where are you?

are you 50-65? are you 55-65? where are you? >> i think the term structure continues to show bearish indications. the deferred futures have been rising relative to the buys. that tells you crude is bidding to go into storage. that's never a bullish circumstance. i think $65 wti, especially in a contangoed market makes it very easy for enp people to be hedgers of next year. i think it's going to be very difficult to push wti beyond 65. i think it's going to be fairly easy to get wti down to 50. i'll be in the 45 to 55 camp instead of the 55-65 camp. >> 45 to 55 camp. mr. dennis gartman, thank you very much for joining us. always good to sigh. let's trade this back here on the desk. what did you think about dennis's comments, pete? >> everybody seems to be -- the one thing i'd say in terms of europe itself i'd be looking at the banks there as well. i think deutsche bank when you look at where it trades priced

to book right now it's incredibly cheap and i think there is plenty of up side from here. i think $45 is not that far away, believe it or not, as a $32 stock. you look at the reaction from the u.s. banks, that tells the story. >> coming up forget about status updates. a leading analyst says virtual reality, v.r. could boost facebook by another 40%. what he said that's greating traders excited. plus, netflix may have already doubled this year. but one analyst said it's got another 300 points to go. the biggest netflix bull on the street will be joining us live. later on, this may be a huge week for companies going public but we've got three recent ipos that are maybe worth a second look as well. all that and more ahead on "fast."

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whatever i can do to help compute a cure for cancer, that's what i'd like to do. a big day of gains for facebook kicking off our top trades tonight. the stock ending higher by more than 3% after piper jaffray analyst gene munster increased his target to $120 from 92. the firm making some interesting comments as well about the value of virtual reality on "closing bell" just moments ago. let's listen. >> we believe that oculus gives facebook a foothold and a seat

at the table, an insurance policy for this next computing paradigm. >> do you agree with that pete? an insurance policy? >> i certainly don't think it hurts at all to have oculus along for the ride. he think there's virtual reality, there is something to it. whether it's creepy or not is for everyone to decide. you've got instagram, the buy button and you've got this competition online with youtube. they've done such a great job with video. i think there's a lot of different reasons and technically stayed it feels like facebook finally started to break out to the up side. in the weekly options three times what was the open interest on the 84 strike calls were purchased today. that tells me a lot about people right now think that even in the short term oculus -- gene was talking long term. in the short term people think this stock is ready to break out to the up side. i bought those calls as well. >> anybody else agree with that? >> i was surprised the street isn't further behind this whole trade. facebook has been going sideways since march effectively since it made its highs, but what's app, messenger, instagram, these are things that are all being monetized. the video ads are much much

more valuable to advertisers than they had thought. they're going to have a lot of revenue here. i think it's not even in the price. >> we've been bullish on facebook for a while, for whatever reason it keeps getting to 85 and failing. i think this time it blows right through. >> next up we have a big day for the home builders as well. after may existing home sales rose much more than expected hitting a 5 1/2-year high. all the major home builders flying on the back of that news. grasso. >> you know, the home builders have been in such a down cycle and home sales have been in such a down cycle for years now, that no one really believes that. a name like toll brothers has already had its recovery but names like kb homes or pulte homes, they have yet to experience their recovery. we saw kb homes pop dramatically on friday. so i said if you still want to play this and still want to expose yourself to the first-time home buyer it's pulte and it's kb homes and i bought both today. >> just out of interest how much of this is people trying rush in and buy a home and lock in rates before they start to potentially rise much more? >> there is to a certain extent that but when we're talking about stocks these are names people have bet against,

especially kb homes and pulte. that's why i bought the two of them. because they have lagged the group. so when you start to talk about the actual microcosm of people buying homes i would guess so. but rates have been low for so long and they're not going anywhere anytime soon. that should not be a hurdle -- >> we've seen a lot of momentum. most of this number a big part of this number's strength was first-time buyers. it's not foreclosures. it's people stepping up and we're finally seeing some people going into the market. i would prefer to go the small cap way. bieser, bzh. also in the materials side ashland. a lot of these guys are still not trading at the right multiples and they're being brought down by the entire commodity complex. they will trade with the housing market and the housing market in the u.s. remains very strong. prices year over year very strong. >> first-time home buyers 32% of purchases. next up gopro supplier ambarella crashing closing near the lows of the day after short seller citron research called the company's valuation ridiculous on friday.

that also dragged down shares of gopro as well. >> huge move on friday. bigger move today. we talked about $100 not because it's 100 but it was a 50% correction. the $70 level's where the stock sort of flatlined back in the fall, spiked immediately to 130. should have held 100 fade. it did not. trade monster volume. you wait for it to recapture 100 if it does and then maybe try to buy the bounce from them. the sell-off in gopro for me was overdone today. i thought the stock had tailwinds. people today were using gopros as a way to proxy short ambarella ambarella. i think that's a mistake. >> i think it's a mistake too and it's an opportunity for gopro. even though it's had this big run you wanted to see this pullback. now you're getting the opportunity after this huge run to the up side gopro's been on. international expansion and it's brand. i think aum of those contribute to the fact that gopro should go higher. >> why buy it now? to me this is a stock that's a total momentum play 70 times earnings. all the issues on competition are still there. i look at this chart and i say this thing goes to 50 before it finds a base, and i think you have to listen to this news.

this to me is why. it's a great company. they have a brand. they have this -- >> they're down 13% year to date. if it's a freefall, and to your point when you look at an ambarella you want to see a three-day rule-u want to see where it starts to make a series of higher lows. we haven't seen that yet. you have to give it time to breathe. but gopro if it's running out of favor as market perception, and i'm not sure it is yet. but obviously if you look at the chart, it tried to form a base and it hasn't done it yet. >> a lot of competition out there. absolutely. still ahead, blackberry out with earnings tomorrow. find out why one top analyst in the space says it needs to dump the actual blackberry handset in order to stay relevant. in the meantime here is what else is coming up on "fast." >> netflix shares have doubled this year but one top analyst says it's still got another 300 points to go. >> and the money's coming your way. you don't ask any questions. >> he will join us live in our call of the day to explain what people don't understand about

the streaming giant. and later, fitbit hitting the ground running. popping another 16% in its third day of trade. and one of our traders, who was bearish, is now bullish. grasso will explain why he bought shares and why you should too. when "fast money" returns. llege students drop out. but how can you spot who's at risk? the one who lives far from campus? the one who works the night shift? the one with new responsibilities? one thing can't tell you, but the right combination can. universities are using ibm analytics to understand pressures in and out of the classroom- some expect to cut dropout rates by twenty-five percent. ibm analytics is working to make education smarter every day.

netflix jumping more than 2% on a very very bullish note at btig research. the firm saying the stock could rally another 40% or so in the next year. it is indeed our call of the day. rich greenfield is btig's media and tech analyst and the man behind that bullish call. rich, what's happened? what's changed to make you so incredibly bullish? people are questioning this. >> hi. thanks for having us on. the biggest change over the course of the last six months has been just the increased confidence in their u.s. trajectory. a lot of people get excited about the international. i think you've seen other people talk about how big this could be globally, but i think the real story here is that the amount of content they've launched on the platform, both original programming and content acquired, so things like "friends" but then also shows like "bloodline" and "the

unbreakable kimmyschmidt." the caden of the content and quality of the content is driving down churn. so i think you are rirltly lowering the churn rate and people are becoming stickier. subscribers are becoming stickier, so you're getting more confidence in the growth of subscribers in the u.s. and also in your pricing power. and i think as you look at that as your base and you think about what that means globally you get more and more confident about where netflix can be over the next three to five years. >> hey, rich. i've got a quick question for you. when it comes to the competition, how have they done such a great job? what are they doing that's keeping the competition away from what they've created in this big mode so far? >> i think amazon's done an amazing job over the last year. i thought transparent was a great show, moatszart in the sung'll was a great show. i thought with all the visibility amazon prime video has had i would expect it to make a bigger dent. sand vine tracks how much usage,

how much time or how many bits are flowing through the pipes related to various services. just to put it in perspective, netflix was already the largest of 35%, 36% of time spent, or bandwidth used was netflix bandwidth. the amount of growth that netflix had over the last six months was two points of growth. so like 35 36 up to 37 38. it grew by more than amazon's entire share. so amazon grew but its entire share was less than netflix's growth over the last six months. the point is all of these things, whether it's hbo go hbo now, whether it's amazon prime, whether it's hulu they're all being just literally dwarfed by the usage of netflix. i mean netflix is literally kind of like kleenex. it's becoming the definition of internet video. >> hey, rich it's tim. talk about international versus domestic. it sounds like you're more impressed by domestic and that's a bigger part of your upgrade, but if we look at a lot of people they say hey, 25% to 30%

penetration of the 300 million broadband market by 2020. so these are all neighbors seem to be kind of out there. i'm just trying to understand how sensitive your model is. and a lot of guys are at dcf. it doesn't take much to move these numbers around. >> this has always been a stock, you go back to the crisis of confidence when the stock went from 300 to 60. this is about faith in the ability of management. i mean that's what you're really betting on here. i think you always have. and there's been points in time where we've gotten excited and not excited about the stock and we've upgraded and downgraded, you know respectively. i think what you're looking at right now is markets like latin america got off to a very slow start. they really struggled. and i think that's one of the times when you didn't want to own the stock because when people really doubted their abilities in latin america. but now across you know latin america they now have you know they said 5 million back in december. that number's probably north of 6 million or around 6 million now. but keep in mind there's probably 40 to 60 million high-quality broadband subs in that market. there's tremendous potential over the course of the next

five-plus years. they're just getting started. japan which they don't launch until october, japan has 35 to 40 millimeter good broadband households. these are big opportunities. projecting the pace of those markets is very hard but they seem to be learning as they launch markets. they're learning a lot. >> rich really quickly, i have to ask you this because i believe you have hosted a number of netflix earnings webcasts right? so therefore, when you come out with a really bullish call like this some people might see that as a conflict of interest. how do you respond? >> look we've been able to host the conference calls when we've had a buy rating not had a buy rating. right now we're actually not hosting this quarter's conference call. i think we stand by our independence as the thing that's most important to our franchise historically. we've liked and not liked netflix as well as many other stocks. so i don't know what to say other than the fact of we believe this stock, we believed in october this stock was going to 600 fast. it actually did that. when we upgraded it. it actually had a bumpy road.

a lot of people doubted us originally on that call. the stock kind of suffered for like a month and a half after. and it's been a rocket ship ever since. we have a lot of conviction right now that as the media ecosystem breaks down the one clear winner in the space is netflix. >> got it. thank you very much for joining us. rich greenfield from btig. how do we feel about this trade? >> that's an interesting comment. by the way, i just don't understand why a company puts themselves in a position -- this is nothing to do with btig. why wouldn't you have your own i.r. people leading a webcast? but look when you look at a stock that's trading at 200 times earnings, guys have all gone from 200 to 300, 600 going to 950. rich has been on top of this story but to me there's so much baked into this stock at this price that you'd be crazy to be chasing it. >> okay. enough said on that one. up next fitbit shares getting a serious workout today. soaring more than 32% in its third day of trade. and one of our traders is buying into today's bounce even though he warned against the stock last week. grasso, i'm looking at you,

buddy. what gives? >> we'll see i guess, right? >> yeah, we'll see. and then later on oracle's last hope. after dismal earnings is the cloud company's new platform launch its last-ditch effort to right the ship? a special report from "fast money" returns. you probably know xerox as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working

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first, fitbit surging 14% in its third day of trade. that stock by the way, is up 24% since it went public last thursday. now our very own steve grasso had this to say ahead of the ipo. take a listen. >> there's a lot of hype around this. a lot of enthusiasm around this but if you have to ask my opinion i believe they came a little too late because the next iteration of apple watch is

going to steal a lot of their market share. >> now steve has had a chafe heart but not a change of shirt. >> i think it's a different shirt. >> i didn't have a change of heart because i still stick to what i said. it's a great one. thanks, man. i really appreciate that. so basically, i stand by what i said. i do believe the next leg of apple watch and next iteration of apple watch is going to steal thunder but that may not be anytime soon. and the price points at this point work. i was just in target this weekend. and they loaded the shelves with fitbit. they said the best thing they could have done is the ipo. for branding. so people didn't even know fitbit was out there. 65% of people with a fitbit are women. and pete. women and pete who have the fitbit 37fit fitbit

fitbit. >> lashing out. >> i'm just deflecting. >> are you criticizing pete's fitbit? what are you wearing? >> mandy's -- >> i felt way late quhi bought the stock today. i think you're going to see a lot of volatility going forward p but i think that mutual funds are going to need to own this stock right off the bat. it's got a small float so to speak on a relative basis. so i think this thing can go higher. is it going to have ebbs and flows? yes. i think it goes higher. >> speaking of ipos, the hottest investment this year about 9% versus the s&p's 3. and our next guest says there are three worth taking a second look at. paul hickey is the spoke investment group co-founder. why don't we start with continental building? why don't we look at that one? >> you guys were talking about it in an earlier segment. the housing in the u.s. has turned. we're well off the lows but we're still well off even average. average housing starts should be about 1.5 million. what's highly correlated to residential housing? sheetrock.

sheetrock is continental. it was originally lafarge's north american unit. they sold it to lone star. the stock has been on a nice run, consolidated over the last two months after a secondary. if you like housing which we really do like at bespoke, this is a good play on it. >> anyone want to make a comment on this? >> go ahead. >> i was just going to say, the material space if you look at the relative valuations to where these things are trading. i know '07-08 was bubblicious time but a lot of these companies have been assumed to see no recovery when in fact they have a much better growth environment than they had in the late stages of that rally. i think paul and these guys are on with it. >> let's move on to farmer as well. this is our second one we're looking at. >> this is a much more volatile name. it's going to be riskier but there's going to be several milestones and studies coming out next year on the stock and it shot up to about close to $90 a share earlier this year.

it's been pulled back to around in the 50s. now in the low 60s it's broken that down trend. good time to potentially get in here if you want a play on that space. >> and the third one is virgin america. >> the airlines have been killed. kefrnz jet fuel prices going up. capacity increasing. but again, virgin america started in the 20s, got up to the 40s, came right back down to the 20s. if you were cursing yourself on that original run-up it's right where it was and it's shown some support there at that ipo price. >> it's got a fantastic safety video as well. has anyone seen that? >> phenomenal. >> the only safety video that's interesting. >> the other thing with ipos is we talked about fitbit, shake shack and gopro and they shoot higher on that. with these ipos you want to wait until they get seasoned by the market. there are every fitbit there's editsy and maybe two or three that come crashing down. wait until the stocks establish

trading patterns and then you can start taking a look. >> good advice. thank you very much, paul hickey. guy. >> kite pharma traded up to 90 early january, pulled all the way back up to 50. they have their flifrt day tomorrow. i think it trades there. it's definitely more deep end of the pool than geno therapeutics we talk about all the time. i think kite goes higher. >> i look at virgin. i like these iernlz anyway. unfortunately they've been sold off they broke all these 200-day moving averages became a technical trade. they're starting to show some life once again and i think virgin has plenty of up side if indeed these airlines can continue to move to the up side. >> if you look at united american and delta they all are probably no more than 10% away from getting back to key levels. virgin on a relative value that's what paul's saying has not moved to much of these guys. take a look. >> let's move on guys. just moments ago another health company filing to go public. dom chu. >> the judgment-free zone. that's what everybody knows them

as. the big purple and yellow logos. they're the ones who charge $10 a month, $10 to join. they're going to list on the new york stock exchange under ticker plnt. they filed the paperwork. no indication about size. they put pun of those generic placeholders for, quote unquote, $100 million. but we don't have any idea of pricing or the size of their offering. what we do know is it's one of the big franchisers and operators of these gyms across the country. according to the company, they opened their 1,000th location earlier this month. again, planet fitness looking to go public will trade under plnt is the ticker on the new york stock exchange. they're going to yet determine the price and the valuation. but among the underwriters jpmorgan, also bank of america, merrill lynch, jeffries and credit suisse among some underwriters. back over to you. >> thank you very much. dom chu. even though their logo is the judgment-free zone. let's judge it. >> what do you make of the ipo market? there are certain people i can say it's the top of the market.

there are certain people you can say guys are going in trying to raise cash and they could be late, could be early. doesn't matter. the market's going to judge this. we're going to look back in six months or eight months and say whether this was the top. but a lot of guys see an ipo like that. i'm not judging it completely based on that. but an ipo like that and think maybe the market is a little bit toppy. >> okay. we'll wait for details on planet fitness's ipo. in the meantime it's time for pops and drops. the big movers of the day. top pour under armour. >> i often talk about nike which continues to break out to fresh highs. under armour under a little more pressure living up to the valuation and the many pz so for me this is a stock that continues to trade well right on top of their game but an expensive stock. a stock i stay clear of. >> drop for fireeye. >> stock is up 66% year to date. everyone's nervous about the levels about valuations in this one but i would think you're going to see a lot more government contracts going forward. you're never going to be secure in cyber security. and i think that bodes well for stocks like fireeye.

>> and a pop for adobe up 3%. guy? >> the report on june 16th. the initial reaction was to sell it off. we talked about it for the last three years. every sell-off post earnings has been an opportunity to buy. we had new all-time highs in the name. i think it continues to grind higher despite the fact the valuation's probably rich. >> and we've got a pop for delta up 2%. >> a lot of this coming off the "barron's" article. talking about how much up side there is. united, american delta. all of these various names including southwest. i look at these names and i think the sentiment just suddenly turned on all of them. i do think there's up side. i had call spreads in just about every one of these names looking at up side. i think they're going to bounce. if you look at the earnings, look at the revenue look at the margin there's a lot of reasons why you'd like these airlines right now. >> and a pop for pop star taylor swift. first spotify, now apple. isn't out of the woods from swift's music stream wrath. on sunday taylor swift took to tumblr to complain about the

giant's decision not to pay artists during the three-month trial period of its streaming service. the grammy award-winning performer threatened to pull her latest album 1989 if apple did not change its policy. but apple very quickly shaked off the concern by reversing its plans to now say it will pay its artists during that three-month supposedly free trial period. >> good for her. >> well good for her but also potentially a win for apple. it's a win-win. >> total win. puts them out there. everybody who didn't know anything about this whole streaming now all of a sudden it puts them that much in front of them. >> free advertising. and they did the right thing. there you go. >> love her as an artist. her work is outstanding. i went to one of her concerts last year. it's great. >> just by yourself? >> okay. coming up next on "fast" up or down oracle unveiling a new

cloud product today but will it be enough to help investors just forget about the company's big earnings miss last week? and then later on shares of blackberry are higher today. the earnings tomorrow that are still down more than 16% on the year. we'll hear from the top analyst about the one thing blackberry needs to do to turn things around. new york state is reinventing how we do business by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968. we eliminated the income tax on manufacturers altogether. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at ny.gov/business

♪ ♪ ♪ (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck? check your broker with brokercheck. welcome back to "fast money." sonic's third quarter profit was

rising and it was in line with expectations. it came to 36 cents a share on an adjusted basis. sales come in slightly above analysts' estimates. analysts were expecting 164 million. the company's systemwide comparable store sales increased by 6.1% and that beat the average analyst's estimate of 5% as well. some nice beats there. sonic is raising its yearly forecast for earnings per share growth to 27% to 29% that narrowly, though missed analyst estimates of 30% gains for eps full year. now, sonic shares had a nice run-up 18% so far just year to date. it's up about 50% over the course of the past 12 months so perhaps a bit of profit taking there. also be sure to tune in tomorrow because sonic's ceo cliff hudson's going to be a special guest on "squawk box" tomorrow morning 8:10 a.m. eastern time talking all about the restaurant business specifically that quick serve restaurant or qsr segment, mandy. back over to you. >> thank you very much, dom at hq. i only have one question for you

boys. is the mustard off the hot dog for hamburger stocks? >> if you look at a stock that's trading 40 times in the numbers and they miss this is what happens. if you see the high growth part of the fast food or the casual diagnose space every time this happens. the growth is much better in niemz and the new fangled burger folks are dominating mcdonald's and wendy's. that's where i'd prefer to be, a nice valuation and higher valuation -- excuse me than a higher valuation and better dividend yield. >> one closed down the street me just a couple of days ago. now to oracle the company unveiling its brand new cloud platform just moments ago. cnbc's josh lipton live from san fran. josh. >> well, mandy, larry ellison wants investors and companies to know oracle is a cloud company at an event today ellison announced more than 24 new cloud platform services for building applications in the cloud. ellison wants to make sure we think of oracle as a company

with the complete cloud solution. of course it would not be an ellison speech unless he also went after rivals which he did. >> starting q4 we are growing really fast. we had an amazeing q4. we sold $426 million worth of new sass and pass business in one quarter. i've got to slide on. that's an industry record. no one's ever sold that much in a quarter. so we're growing very fast. that was a 200% increase over the same quarter last year. so we are growing much faster than salesforce much faster than workday. >> ellison said that unlike rivals all three oracle cloud platform layers are based on industry standards. in its last reported quarter oracle said total cloud revenues jump 30%. still it's a young business that only makes up a relatively small part of the company's overall sales. mandy, back to you. >> okay.

thank you very much. josh lipton. let's trade oracle and the cloud space in general. filling in last week when they came out with their big miss. >> i was bullish into earnings. i was wrong. but then on the back of it we said listen, now the stock has the potential to trade down to 41, 41 1/2, and that's exactly what it did the next day. i think the next day's low was 40.97 and yet a huge bounce to 43. and it looked like it was off to the races. the fact the stock had no follow-through on a decent tape since then is a little bit disappointing. i think it's cheap. i think 41 is the line in the sand. but you have to be somewhat disappointed about the way the stock has performed, especially since it bounced so nicely last week. >> and especially tins fourth quarter's supposed to be a very strong calendar quarter for them. like guy was saying i would be a buyer into earnings. what do you do with it now? the cloud business as larry said is much much better than people expected. their conversion to full cloud is very exciting. the stock is not going to run away from you. you need to have a target 48 bucks to me is where you're at 12 months. that's about 18 times. and this is a company that's

proven itself. i would not be running out the door. i think 41 1/2 is your bottom. i think you can own it here. >> i don't know how much upside you've got. my brother jon reached out another day and bought some of that. i think there are better opportunities for up side right now. i think even within the cloud space i think there are different names. i'd rather be in microsoft than in oracle right now to be honest with you when i'm picking between those two clouds. especially with adella and all his expertise there. i think they're going to move faster. >> oracle down 7% year to date what you look at mirror image sap up 7% year to date he named crm and he named workday but he didn't talk about sap. sap is quietly perform and knocking out numbers up 7% year to date. >> stim still ahead on "fast money," d-day for blackberry. a top analyst who says the former smartphone king wants to get rid of this. get rid of the blackberry if it wants to survive. we'll explain after the break.

senior not analyst and managing director brian blair is live in stamford connecticut. good to see you, brian.

you wanted to hear one particular thing don't you? >> i do. i want to hear all about the hardware, not only how many devices they heard in the quarter but i want to hear what their plans are for the division. they recently released a product called the leap which is effectively the same blackberry they released two years ago called the z-10 and i don't think it's going to move the needle for them on the hardware side and i'd like to hear john chen actually say we may be cutting this division out of blackberry. >> how likely do you think it is he will say that? >> i think he might hint to it. he's very smart in that he's not going to stick with it i think for much longer. if it continues to lose money. and he said that. he's coming in and he's trying to right the ship. he basically jumped on the titanic and he's trying to get it to avoid the iceberg. the problem is hardware is still 40% of their revenues. but all the growth and opportunity and margin is coming from the software side. i think he'd like to grow the software side first before he cuts it. but i think he's hope to cutting this division out. it's a money loser and they can't compete.

>> hey, brian, it's tim. if you look at the analysts people say they're doing it on some of the parts, i'm not sure how they're valuing it. isn't this optionality to the business? this isn't a reason to be in it because someone might want this hardware but focus on software and services and that's where you're getting continuous growth. >> i would agree with that concept if it wasn't continuing to lose money for them. it becomes tough ever a while to keep on pouring money into r&d to try and compete, marketing and all the spend that comes with developing new products. and it's a drag on earnings over time. you're right. there's optionality there. there might yet be a chinese buyer for this. maybe xichlt aomi maybe le novae wants to come in and support the user base and spend some money to grow it. but i think it's very nichy. around the globe nobody wants blackberry anymore. it's almost strange now when you see one. it's very foreign. and the biggest challenge is android has really great -- there are really great android products that are under $100 now

around the globe and that has really just erased the market for blackberry. >> there's some speculation they might be moving into android. >> so i think -- i heard that rumor as well. i think it would be a bad call because you know there are so many other great hardware manufacturers in china who are willing to take a razor-thin margin that do very good hardware hardware. i think it would be tough to compete with those guys. what they need to do, they need to focus on mobile device management. they need to try and monetize blackberry messenger. those are areas where there's still some interest in the enterprise and some consumer interest. so if this became a purely software company, sure it would cut revenues down but it would certainly be a better long-term opportunity for them. >> got it. but you're sticking with a sell rating price tag? >> still have a sell until they see that hardware division gone. >> got it. we're listening out tomorrow then. thank you so much brian blair. options traders are expecting big moves out of blackberry earnings. mike kuo is on the fast line with the action. >> we saw two times the average daily options in blackberry.

bulls were outpacing the bears by about 2-1. we were seeing the weekly 9 strike calls betting for 40 clents betting on an up side move by about 5% early in the week. >> for more options action check out the full show at 5:30 p.m. eastern on friday. coming up on "mad money" tonight lots of things but also right after the break there you go we've got robert ward from radius. more "fast money" coming up next. here at td ameritrade, they work hard. wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got this.

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zillow. no more greek drama? don't miss my take on the stocks that can soar off this potential breakthrough. plus the ceo of a stock up 60% this year and my take on the crazy action in ambarella. "mad money" is next. history made on the golf course yesterday as jordan spieth became the youngest person to win both the masters and the u.s. open in the same year. and tomorrow he's going to be joining the halftime crew for a first on cnbc interview. that is tomorrow at 12:00 p.m. eastern only on cnbc. okay. let's trade the golf players here. pete grasso guy. who are the golfers here? >> the one thing i would say i'm not necessarily a golfer but i will say np under armour as a stock, when you look at what they've been able to do and who they've been able to garner in terms of who they are sponsoring right now, spieth being one of them and they just extended him to a ten-year deal at the beginning of this year, and all

he does is go out there and win the masters and now the u.s. open. absolutely incredible. but this is a very high-priced stock. but that doesn't mean you can't touch it. i think you can. i think their growth tells me that this stock can go even further. >> you go dick's sporting goods and you want to shoot against that 50.890 mark. 50 3/4 is the sell side stop. >> around the horn. >> ewz starting to break out. brazil despite all the headlines the currency is strengthening. >> pete. >> i'm going with ups. one of these stocks that got killed at the beginning of the year wp 114 to 100 to 95. now it's back over 100. i think it's not going to stop there until it gets to 114 at the end of the year. >> fitbit you ran the clips on me, made fun of my shirt the whole thing. i really appreciate that. fitbit. $35 stop to the down side. >> i'm looking forward to sighing on wednesday as well. >> you're back on wednesday? >> back on wednesday. >> facebook. feels like it's breaking out.

we had the upgrade today. pete talked about it. tim. stevie. fbook through 85 bucks. >> i'm mandy drury. catch "fast money" again 5:00 p.m. right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere. and i promise to help you find it. mad money starts now. >> hey, i'm cramer. back to mad money. kra mer kah. my job is not understanding but the teach and coach you. call me 1800 cnbc or tweet me me @jimcramer.