>> i'll join you in that. thank you so much for joining us. >> oh, yes. >> happy 20th birthday, anniversary. thank you so much as well. that does it for us on "closing bell." it's time now for "fast money" and the gang. "fast money" starts right now. live from the nasdaq marketsite overlooking new york city's times square i'm melissa lee. traders on the desk are pete najarian brian kelly, karen finerman and guy adami. tonight on "fast" twitter shares surging as rumors of a possible takeout begin to swirl once again. we'll talk to top-ranked analyst bob peck to separate fact from fiction. plus fitbit beating apple at its own game outselling the apple watch. could fitbit be the next great tech stock to own? but first we start again with a story that is dominating wall street and the global markets and that would be greece. cnbc's chief international correspondent michelle caruso-cabrera is live in athens for us. michelle? zblaishlgsa. as the bailout is set to expire for greece as night falls here, this means that now greece lives

without a financial lifeline for the first time since 2010. the technical expiration of the bailout is important because it could push the ecb to make a hard decision tomorrow. technically, the ecb should only accept collateral from investment grade rated countries. greece is not investment grade. but greece gets an exception because it's, quote, officially in a bailout program. that expires tonight. we'll see what the ecb decides tomorrow. they may be waiting to see what happens in a controversial referendum being held sunday. a referendum in which thousands of yes voters came out tonight to say they want greece to vote yes in this referendum coming sunday. it's a referendum in which they are to decide whether or not to accept tough bailout measures from greece's creditors in exchange for bailout money that helps the country keep paying its bills. a lot of the yes voters told us they don't think greece has a choice. >> even if it means more austerity measures, okay, i have

a job. so i can still pay. i understand that some people cannot pay anymore. but i think the other solution is basically having no job whatsoever. and i think people will go hungry literally. >> we're likely to hear in the next few hours whether it's official greece has not paid the imf the 1.5, 1.6 billion euros it was set to pay back today, melissa and we'll have to wait to see what the ecb decides tomorrow. back to you. >> michelle caruso-cabrera, thanks a lot for that. let's trade greece here on the desk. huge plunge yesterday. today the markets are stabilizing here. we are staring into the abyss right now, beakers. so have we seen the worst case scenario when it comes to the impact of greece on the u.s. stock market? >> i don't think we have, actually. i still think people think there's going to be a last-minute deal and i'm not sure there's going to be. we'll see tomorrow. the one thing michelle had mentioned is tomorrow the ecb -- i'm sorry, on wednesday -- tomorrow's wednesday, right? yeah, there we go. on wednesday the ecb has their e.l.a. meeting which is their emergency liquidity assistance

and that's base clip last bit of money that's going into the bank. if the ecb decides to pull that line then you're looking at a grexit. that is the line in the sand for the ecb. i don't think they'll do it but you've got to watch that tomorrow. in terms of the impact on the rest of the stock market i still think not only do you have greece but let's remember what we got hit with. we got hit with china and also puerto rico. i think puerto rico's a bigger story than people are making it it out to be. >> it's interesting because people are saying puerto rico is nothing, it's a rounding error when it comes to our gdp. but take a look at all the hedge fund guys invested in puerto rican debt and/or real estate. could there be some sort of danger from another part of the market and that would be just hedge fund exposure to this? >> i totally agree. and i think when you look at yesterday's reaction the second half of the day on that huge sell-off that we saw i think a lot of that was attributed quite frankly towards puerto rico. you look at those financial insurers, they absolutely got hammered. you look again today, look at ambac once again, mbi once again, a.g.o., those names all pounded to the down side. some of them reacted off of those loans. ambac not one of those. but when you look at these

stocks that are down 15%, maybe over 20-plus percent over the last couple of days, it says a lot about puerto rico and obviously i think when you add all of this together it makes us all very uncomfortable. yes, puerto rico's much smaller, but when you look back over at greece, i'll tell you what, those pounding down, i agree with beakers, we had vix today midday 17 1/2, finished today around 19. today we were all over the place once again based on just about every news story about merkel, what she had to say. people i think still are at least holding some hope that there might be a deal. will there be a deal? i don't know. but if not i think we've got our market and it's going to be extremely volatile. >> all this being said, can we see lower on the ten-year yield? >> welcome back, by the way. it's two weeks. >> i know. >> let's not pretend you haven't been here. welcome back. >> thank you. >> to answer your question, the bond market traded really well yesterday. you're talking about a bond market's the tlt has gone from 138 down to 115 or so since february. given the headlines we've seen it should have traded a lot better yesterday and you should

have had follow-through today. that concerns me. it tells me maybe the market doesn't think greece, puerto rico, china is as big a deal. technically in the s&p i thought it held exactly where it should have yesterday. steve grasso's talked about 2054 sort of being the line in the sand. that's effectively what we traded down to yesterday and bounced from. yeah, you didn't get a huge bounce today. i'm sort of in beaks' camp and pete's camp in terms of more volatility. but the fact it held the technical levels that it did is somewhat encouraging. zbluf a longer-term view. >> yes. sxwlaul this stuff is going on right now. >> it's hard to sort of stay focused because within a couple of hours you could see things really changing a lot. so what we do is have the names we have and then what we do is trade around our hedges. pete said volatility index went up a lot. we sold a little protection yesterday. i still have protection that i think is expensive. it's a little too expensive for me to own it. i'm inclined to sell some. or roll down maybe to take some money off. maybe roll down tomorrow.

but here's the thing beaks you could answer. there seems to be these lines in the sand that continually get redone, so we keep thinking -- >> sand. not concrete. >> all right. sunday really that is make or break. >> right. >> and it wouldn't be so shocking for me to see a line in the sand moved again. >> right. and i think that's very possible because look at it this way. even if on sunday they vote no and the ecb removes the liquidity assistance from them it's a process for them to leave the eu. it's not going to happen tuesday morning. they've got to go through a whole bunch of process to get out of that. that will hang over the market. just in general puerto rico's going to hang over the market and the question is are there other dominos to fall in this and at the very least given this week that it's 4th of july, people want to just lighten up books i still think you're in for more down side. >> it's a process to leave the e.u. but at the same time the

market reaction will happen tuesday. >> like that. yes. >> for more on greece let's bring in jpmorgan chief market strategist for europe stephanie flanders who joins us live in london. great to have you with us. >> good to be here. >> what is the worst case scenario in terms of the impact on europe if greece should exit? >> i mean, i think you're looking at obviously more volatility and you've been talking about how the market's kind of ripe for that anyway for a bunch of other reasons. but i think the reason why you've had fairly controlled sort of risk environment even in the markets closest to greece here in europe this week has been that they -- i think people feel that even in the worst case that you had a greek exit from the euro, however that happens. there really are some much stronger tools for dealing with any contagion. and the countries themselves that might be affected by contagion like italy and spain and portugal are really much better equipped themselves, much stronger to deal with that kind of contagion. so i think if people really

thought that the exist greece from the euro zone was going to have the kind of damage that it might have had a few years ago, such a systemic threat, you would have seen a lot more concern play out in the markets this week because now people do think there's a serious chance that could happen. it looks like -- i would still say maybe one in three chance but that's a pretty significant chance. >> and you also make the point that the periphery countries, when you take a look at their debt, you're not seeing the hike in yields that we've seen in the past whenever there's been this whiff of a potential grexit or exit of any of the periphery countries. >> yeah. you can certainly say we haven't seen the kind of run-up in yields that you'd expect. in fact, some of the run-up we had at the start of this week after the news of the referendum was really just reversing the fallen yields you'd had last week when we thought that there was a deal. and then even if you did, say, have a spike, even of 100 basis points on some of these government borrowing costs in

portugal and elsewhere, you know, compare that to where -- they're miles off where they were at their peak in the crisis in terms of very high rates. they just -- they have a lot more room to feel some pressure without it really affecting their debt dynamics. i would say, though, i think it's not that it wouldn't be a big deal to have greece leave the eurozone for markets or for the economy. i think long-term it changes the nature of the eurozone, it probably makes investors more inclined to put a risk premium on european assets whenever there seems to be a risk because there is a possibility that a country might leave but maybe wasn't there before. but that's a long-term sort of economic and financial and political effect of greece leaving. it's not a short-term thing that's going to derail the european recovery, let alone the u.s. recovery. >> all right, stephanie, going to leave it there. thanks for your time. appreciate it. stephanie flanders joining us from london. if stephanie is right, she is the chief strategist for jpmorgan for europe, and that it's not such a big deal, is this the time to go in and buy european stocks?

>> i would not do that. >> you would not buy germany? >> no. i was long germany. dxge before this all happened about a week or so ago. i got out of it. i would not get back into it. stephanie very well could be right but i think there's going to be some economic damage here and i do think that mario draggi and the ecb's credibility is on the line. they said whatever it takes to keep the you're zone together, they haven't done whatever it takes so far. >> last time we talked about deutsche bank pete said the way to play it is to use the increased volatility to sell some $28 puts against it and basically get that premium. i think $28 is where you want to buy the stock. it can play one of two ways. i think you get some negative headlines. db trades down there. i think you buy it if it hits 28. >> fitbit getting a big endorsement from the street today. could it be the next must-own stock. plus twitter flying high on brand new takeout chatter on the eve of dick costolo's last day at the helm. and later apple music say go but is the street discounting what could be a major catalyst for the stock?

we'll hear from a top analyst. all that and much more ahead on "fast." we live in a pick and choose world.

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the stock finishing up over 15% after rbc finished coverage with an outperform rating. fitbit is "rapidly gaining share of the fitness market and its international push will help grow revenues." pete. >> this is a company that's already profitable. and talk about a company that understands about growing revenues. 2015 about 80% growth in the revenues. a little less in 2016. but just like we've seen out of gopro they're looking at international and looking at the u.s. and how they're going to exploit that and continue to capitalize on the wellness craze. when you look at that it starts to make some sense at 25 p/e. not really one of these very overvalued areas where i think you're as concerned about somebody who's got to grow into their valuation. this is a company that's already out there. now, $45, i think that seems a little bit rich right now. they're the highest on the street. i'm not sure i agree with that. but it's obvious this is a company that's been moving in the right direction. if they can continue this growth they can easily get toward 40. >> isn't it amazing that

whenever apple's in the same sort of product category it is always assumed that that other company will not have a chance to survive. and here we are with fitbit outperform 45 bucks. it's a decent performing ipo. is there room for both of them here? >> apparently right now there is. i think pete makes a good point. that's the whole -- that stock scares me a little bit. you can see they've got some tailwinds in terms of the stock price. if you want to play in the deep end of the pool, yes, you can. i think pete would agree with this. if you want to be in that space sort of in the aggregate, you saw the quarter out of nike, saw the way the stock has traded despite the way it sold off i think that's your best bet. >> single-family home prices rising in april from a year earlier but at a slower pace than estimated. xhb ending slightly higher on the day. >> a couple months ago beak did behind the trade or beyond the trade or one of those trades. zblooichblths through home

depot. and look at what masco has done the last few months. pushing toward 28 bucks. not a great quarter last quarter but seemingly again talk about some tailwinds they seemingly have it. they just spun out a group. i think you can own both right here. >> had iend handbag trade. kate said and michael kors all ending low yoernt season after cowan research release add red a detailed report on the so-called purse market worried the increase in consumer spending on athletic apparel as well as consumer electronics could be chipping away at demand. it seems, karen, according to this note that people want to buy everything but handbags. >> but handbags. clearly the note hit them all. kors is one i own and clearly that's been very painful. that may be. it is possible. we actually brought some more kors today which is the first time i bought it since that big down draft after earnings. even if that is all true, the valuation here i just think is so ridiculous and the balance

sheet is great and i do think there's an enduring brand there. i've got to own more. and maybe that handbag thing comes to past. it could. the watch thing isn't great for them either but this valuation it is half the price of ralph, a third of the price of kate. 30% less than coach. i mean it is -- >> but does the slowdown in china concern you? the story behind a lot of these luxury brands was this middle class in china coming up. now with the slowdown stock market prices coming is that over and is that going to -- >> for kors actually europe is a much bigger deal. china for them is actually very, very small. japan is bigger. europe is a bit of a problem. and i think that could weigh more heavily if we do see the great unrest there but at this valuation we bought some more. >> may 27th is the day karen's talking about. traded almost 68 million shares. it never really bounced off that day. low of 45 and change. and it should have bounced off that level. for a couple days it looked like it might. obviously made a 52-week low

today. i hear what karen's saying. i'd rather buy it if it recaptured 45 than to try to play it right here. as counterintuitive as that might sound. >> in this space your favorite, pete. >> you know what it is. it's t.j. maxx and it plays into it a little because for a long, long time we didn't see the michael kors brand really hitting into the t.j. stores. >> i didn't think you were going to go there. >> but then we started to see some of that. and you see more and more. you look at that stock, it's holding right on the 50 and 200-day moving averages. they've come together. we saw puts selling in tjx today. they obviously have the online presence as well along with ross stores. tj's my favorite because the ceo there has done an absolutely incredible job, continues to do that great job and the growth is still there. >> you know what that makes pete? >> what? >> a maxxinista. >> darn tooting. >> after the break the man who said dick costolo would be out before the end of the year. he's back again. as twitter stock soars on the eve of costolo's last day on takeover speculation. that man, bob peck, you see him right there, is here to separate fact from fiction.

in the meantime here's what else is coming up on "fast." >> announcer: apple officially pushing play on apple music. but was it enough to keep the street's love affair with the stock holding steady? one of the most closely watched apple analysts weighs in. plus why fast food stocks could hold the key to "fast money." we're grilling up the second half playbook on everything from wendy's to mcdonald's. all that and more ahead on "fast."

twitter flying high on another dose of takeover talk just one day before ceo dick costolo gets ready to exit the c suite. suntrust manager has been bob pack has been calling for potential bidders ever since the news on costolo broke. he joins us now. bob, great to have you with us. what's the rumor today and would you say that it has a chance of actually happening? >> yeah. so the stock is up 6% today on rumors that facebook was going to take it over for about 44, $45 a share. all equity deal. from a small shop no one ever heard of. we don't think there's much truth to the rumor. there's a couple reasons why.

one, if you look at what zuckerberg has done historically it's been very forward-thinking companies like instagram, what's app when it was still small, even oculus looking really long term. right now the company in turnaround mode, it it really wouldn't fit the bill. this could be a 35 billion tds deal or so. so it would take a good chunk of facebook equity to get dumped. >> it's been a couple weeks since costolo announced his exit. i'm wondering if now you believe perhaps that dorsey taking over tomorrow, starting tomorrow leaves twitter a sort of window to actually explore bids. >> yeah. to score bids on acquiring the company. >> no explore -- >> no explore bids, yeah. >> getting bids. >> the reason why i don't think so, and i'm probably the minority on this, i think if they were close to a deal, they probably wouldn't have gone through the whole interim ceo transition in the first place which is a whole process unto itself. the other thing you have to think about is when you do bring a new ceo in here they're probably not going to come in just to flip the company a couple months later. they probably want to have a

vision and build a platform for a couple of years. we're the minority camp. we don't think m&a is imminent. >> but if you're somebody, you're google and you've had your eye on it, now is the time, right? before they get the new ceo. there is a brief window here. >> there is. the question would be can you get it even cheaper, right? if q2 is not going to be as strong as people think at least on the metric side of things, user engagement, and maybe the q3 guidance isn't going to be as strong as maybe estimates are out there you may be able to get it cheaper but to your point we don't know for sure in m&a and once one bidder comes in you could have a little bit of a contest between the players we maengs mentioned and maybe some of the asian players as well. >> bob, real quick google how do they play into this thing? it's now 18 months of underperformance in the stock. trading 520. they report probably in two or three weeks. what do they need? what's the catalyst for google to go higher from there? >> the big thing they need is believe it or not their cfo. roof is coming in, on the job for a little over a month or so now. what investors want to see is some sort of cost discipline, some sort of protection on margins. or more so even talking a little

bit about information on their separate businesses. youtube, double click, et cetera, getting more information there. the investors would respond very proactive. >> we're going to have new management starting tomorrow at twitter. dorsey yes, he's interim, but after that presumably a permanent ceo. interesting because ceo dick costolo made some comments to the guardian about his tenure and about how he communicated with wall street. he said i probably would frame the way we were thinking about the future of the company differently understanding how we were in retrospect evaluated. i don't know if he's talking specifically about user growth and not communicating to the street. but as an analyst do you expect that there's going to be a different kind of communication with you in order to manage expectations better for the company? >> we do because two of the things they have been talking about was user growth, which they may not get that going forward now as well as engagement, these timeline views which they've already pulled back on giving. there may be a new rhetoric for them to talk about going forward and new guidance at least for analysts to focus on. >> bob, we're going to leave it there. thanks for coming by. bob pack, suntrust.

what's your take on twitter? >> 34, 33. that is because of the window that karen's talking about that you can have this potential takeover. it seems to me that there's enough smoke there that there is fire. that being said, if you get a new ceo announcement i would sell twitter because i think that's going to be the point that there's not going to be any takeover. >> would you agree this sort of trading analysis here? >> to some degree. i think the one thing, and bob talked about this earlier in his note, was that google actually could help this user growth and the experience. and i think the combination of that really makes this a very interesting play. was it m&a rumors today? probably. 4-1 calls to puts trading over 250,000 contracts trading on the day in twitter. very aggressive, volatility spiking on that as well. i think there are reasons to be more and more bullish about twitter but we've got to see some of that proof. we haven't seen it play out yet. >> i agree exactly with what you said. >> see, there you go. >> they do need a new ceo. >> it's over. >> and maybe we get the kitchen

sink. >> oh, yes. >> you haven't gotten it yet? the kitchen sink? >> the levels beaks brings up are the exact levels. this is where we traded down to in december and bounced from. 33 1/2, 34. that's basically right. against those levels understanding that is a few percent away i think you can stay long the stock. levels we held from in december and levels we're seemingly holding on now. >> coming up next in case you hadn't noticed apple music is here and there might be more value to it than we think. a top analyst will explain why. plus casinos have been crushed on worries of the macaw slowdown but a chinese economy regulation as traders doubling down on the sector. we'll tell you why after the break.

welcome back to "fast money." stocks closing out the last day of the first half with small gains. the dow clawing back less than 1/10 of its losses from yesterday. the broader s&p and nasdaq both managing gains for the first half but the dow remains negative for the year. here's what's coming up in the second half of "fast money." the bulls are back in macaw. gaming stocks getting a big boost today on reports of new regulations in china but is it too late to place your bet? we'll tell you ahead. plus stocks may have closed out the first half with a whimper but there's still plenty of money to be made in the second half. we're taking a look at which stocks could generate the

biggest gains downtown home stretch. apple officially launching its new streaming music service today but with competitors like spotify and pandora already well established in the space how successful can it be? josh lipton's in san francisco with the details. josh. >> well, melissa, after a free three-month trial period apple music fans will pay $9.99 a month for access to an on-demand streaming music service, 24-hour radio station, and new social service allowing artists to connect with their fans. now, in 2014 revenues from streaming music services grew 29% to $1.9 billion. meanwhile, sales from digital downloads fell 9% to $2.6 billion. so how should investors think about this new service? well, it won't have a big financial impact, at least in the near term. piper jaffray's gene munster says that even if apple were to grow its subscriber base to match spotify's it would add less than 1% to apple's revenues in 2016 but munster does note

the service is potentially important for broader strategic reasons. if successful it could be one more way to motivate consumers to buy iphones, which still account for more than 55% of the company's total sales. given apple's brand name, you'd think rivals would be worried, but the ones we spoke to didn't sound concerned. >> apple coming into the market is going to increase the level of awareness such that look, while people will try the service for free, when you have to pay for it you're going to do some comparison shpg and you know, ultimately people are going to be really excited from what they see when they try us. >> yeah, there are challenges for apple as they enter this market. many of its itunes customers are already subscribers to other services. but music industry analyst mark mulligan says apple also boasts real competitive advantages including this one. its cash mountain of more than $190 billion. that means, he says, the company can afford to spend money on marketing and promotion in a way

that spotify can only dream of. melissa, back to you. >> josh lipton, thanks so much. you heard josh sourcing gene munster of piper jaffray. gene joins us now he's got an overweight rating on the stock a $162 price target on apple gene, great to have you with us. it sounds like you think that this music could be one more reason for people to be in this ecosystem. but as an analyst how do you determine whether or not it's worth it? they're going to be spending royalty payments for plays. they're going to be spending on promotion and marketing. and we don't really know if this is going to be an actual reason why people are buying more iphon iphones, which is the company's bread and butter. >> you've got to do it. the total costs are going to be pretty small. think of this as a few hundred million dollars a year. we obviously know how much money apple has. as you think about the broader phone experience, something that's fundamental to the phone is the music experience. and apple's been about three years behind in that. so think of this as a catch-up. ultimately it's going to be difficult to really pinpoint the exact economic value, but the

true goal here, the real punchline is apple needs to fill the music hole and this will help them sell more iphones in the future, which as josh mentioned is more than half of their business. >> it's karen, gene. when i think of them filling the music hall, first i think of the lost revenue or declining revenue that they've seen from the changing of the business toward streaming. is that relevant to them or is it just such a small amount of money relevant to the overall apple income statement that it doesn't matter? >> as you can imagine, it's a pretty small piece, and i don't think that that really matters that much. but again, just having a more comprehensive experience. i would add this as in the same light of them improving apple pay. it's something they get very little revenue on but some of those reasons people like it. so as they continue to integrate these experiences that should help demand for the phone. >> hey, gene, brian kelly. you brought up the fact that they're innovating and innovating these experiences. but let's just kind of look back because you're saying that

they're three years late on this play on music. their watch seems to be somewhat of a dud. more people seem to be returning them than actually using them. so i'm curious, have they lost their touch and should we think of more apple as kind of a slow growth conglomerate that's just trying to catch up at this point? >> i don't think they've lost their touch. i think, you know, with the watch in particular i think that that's going to take some time. they're coming out with a new version of the operating system this fall that will allow app developers to natively build, which should make the experience and the value of the watch more. that's a little bit of a separate topic. but overall there is truth to this idea that this is going to be a slower growth company. we think it's just a law of numbers. we think it's still a great investment because of the improved profitability and improved share dividends. i think this is still one to own but the reality is the growth rate is going to change over the next few years. >> all right, gene, going to leave it there. thank you. gene munster, piper jaffray. what's going on with the stock?

its quarter to date it's been a pretty tight range. >> 126 -- >> didn't miss anything. >> and it's been that way -- you've got to stay long against 122 sort of a number we've been bantering about. i'm surprised it hasn't really gone north of 135. i think you stay long. i think a trade off of this, though, look at pandora, basically it's gone from 14 1/2 to 19 in march a few weeks ago all the way back down to 15 and change. i don't think you have to get long tomorrow but i think if pandora trades down to 14 1/2 and bounces i think into earnings you could have a major short covering there. >> when you look at the way apple's been trading it's in a very tight range. like guy pointed out you left it was 126 give or take today it's trading around 126. we're waiting on the next catalyst. i think that catalyst ends up being earnings when we get those later on in july. i think that's going to be really interesting. i think these numbers from what we've seen and the penetration levels that we're hearing about, some of the reports in china, in other places, in the u.s., as this cycle continues to rotate, folks getting into the 6 and the 6 plus, i think these numbers could be astounding.

and i think the music component really could be something when you look at the 800 million itunes folks, any conversion over into that really puts them as not just the leader but in a dominant position in terms of streaming music. >> so would you buy into earnings? >> no. it's fine. i don't think you can get hurt in apple but it's just not that exciting to me. they are behind the curve on so many different things. and nothing's going to move the needle for them. this is such a long process for them. i don't think you get hurt because there are so many big players in here that are still holding on. but i'm much more excited about names like pandora. i'd much rather try to buy that at 15 than i would apple. >> all right. time nor pops and drops. big movers of the day. big pop for juno therapeutics. >> celgene's investment in there. the stock was up actually a lot more at one point. i still think you can stay long juno. celgene wins in this. >> drop for abercrombie & fitch. zbln a great day in retail but this specifically.

fbr downgraded it to market perform. and it's okay here. >> pop for pentair. 7%. pete. >> looking for this value. they position starting on may 7th and got into a full position 7% already. they're expecting the stock to go a lot higher from here. very impressive the way they did it. they did it with stocks, also did it with options. 15% of their position through options they were able to get themselves into a very large position. i think this stock's going a lot higher. >> drop for sony down 6%. bk. >> capital raise stock and bonds. tough environment to do that. if you want to play japan just short the yen. ycs is your trade. >> final day of trading for the first half of the year. one widely held dow stock is in the gutter. we'll tell you which one and if it's worth buying right now. sysco, s-y-s-c-o sysco calling off its deal with u.s. foods and getting hit in the downgrade. we've got all the details ahead

on "fast money."

we've got some breaking news on cuba and the u.s. let's get to dom chu in the newsroom. dom. >> so melissa, according to multiple reports, the normalization of relations between ourselves and cuba continues. again, multiple reports say that the u.s. and cuba are going to announce the opening of a u.s. embassy in havana as early as wednesday, sometimes -- again,

reports saying the obama administration is ready to announce on wednesday it's reached an agreement with cuba on reopening embassies and restoring relations. that according to a senior u.s. official. so again, reports are, multiple reports are that the u.s. and cuba will announce that embassies will reopen in havana, in cuba as early as tomorrow. we are still working to confirm a lot of these aspects. but for right now a lot of these headlines are that maybe diplomatic ties get normalized in a much greater degree as early as tomorrow, melissa. back over to you guys. >> that was fast. dom chu, thank you. so long first half. the second half of 2015 getting under way tomorrow. so which names are worth buying? let's kick off our second half playbook. now, disney was the best-performing stock in the dow for the first half of 2015. it soared more than 21% since the start of the year. but is it too late to buy? guy, what do you say? >> i'm looking at disney -- did you say pete or guy? >> sorry. but you can take turns. >> no, pete. >> go.

>> we talk about this stock all the time. we talk about content. now we're looking at where it is. they have owned content. they've got some great library of what they've got in terms of everything from the sports on the espn side to the disney channel obviously to the movies as well. but at these levels right now it does start to get into that rare air type of territory. i think you'd actually wait. and this is one of those stocks i'd have on my list. the market gets sold off on any kind of of grexit. i think that's one of the names i'd be looking at hoping that this name pulls back and giving you an opportunity to get back in. >> guy. >> you've had pullbacks in this name. from 2012 to where we are nowish this is probably a 30d stock pushing up toward 120. and every so often the name, usually around earnings, has been an opportunity to buy. yes, it is expensive, but as long as bob iger stays there you have to stay with disney. i don't know if you can wait. i get it might be getting reached in terms of valuation but they seem to grow into it every single quarter. >> pipeline is good in terms of the movies and the pickup in the

theme park attendance. >> everything's good. they're hitting on all cylinders, and bob iger is staying longer pf weep been long this one for a couple of years. every time i think it gets expensive and it's probably in that territory now i think how aim going to know to get out now and to get in, when am i going to know exactly when it get in and then you've got to pay taxes i'm just going to hold on to it. so far it's been great. maybe you can sell into it if there is a real frenzy with the slate coming up. >> interesting because pete says rare air territory here. value woman karen says you stick with it. what do you say? >> the concerned b.k. says you sell it. i'm more on the rare air area. not necessarily on valuation but just how it's traded. it's trading well above its five-year mean. that to me is the time when it reverts back to that mean. i wouldn't even touch this for the second half at all. >> wow. now, from first to worst. walmart, the big box retailer falling more than 17% since the beginning of 2015. does the retail giant have any chance at a comeback in the

second half? karen, what do you say? >> yes, i think it probably does. although this one's not that exciting to me. i mean, i think they're doing some of the right things. i do think they have pressure. it's the right thing to do to start playing their employees more. that's weighed on them. it is going to be expensive for them. i'm not crazy about it. >> look at the move in the stock. the end of 2014. here's a stock that doesn't historically move that much. went from 75 to 90 in a couple of weeks. it's basically round turned. here we are back at $71 or so. can it win again? yeah, i think it can. it's critical, though, that it holds these levels. this is where we touch down in 2012. it's absolutely got to hold the 69 1/2, 70 level. but to answer your question i think you can own it here. >> you can own it. what do you say? >> i think you can own it and i like the fact they've at least figured out they're not just a big box company. >> it doesn't sound like you're pounding the table, though. you're not that excited about it. >> i'm not overly thrilled about it. as a matter of fact, in the space we always compare names, lowe's, home depot, i'd be in

target. i like this pullback we've gotten in target just the last couple of days. talk about greek tragedy and affecting somebody that it shouldn't. target's done all the right things. they've gotten smaller, store within a store. i think they're doing everything right. xith canan exiting canada. walmartion just sort of spinning themselves. >> it's been a big bear for restaurants and carnesual dinin. shake shack, wing shop going public and giving mcdonald's and dunkin' a run for their money. will the sector continue to whet appetites so to speak in the second half? cnbc's jane wells is in l.a. with the details. hey, jane. >> reporter: hey, melissa. fast casual has seen fast growth but that is expected to slow in the second half because it's just so much competition. even food trucks. we were down at a food truck gathering food services and equipment sales magazine says food truck sales this year will be $670 million. that's expected to quadruple in two years. and then of course everybody wants to be the next chipotle even though chipotle shares are down about 12% year to date.

credit suisse says investors about chipotle have very high angst heading into the july earnings call amidst difficult second and third quarter comps. nifrths may be wary, customers not so much. >> chipotle. it's different from any other of the fast food chains. it's also healthy for you. >> because chipotle is a little healthier. >> so times i have more chipotle just because i feel like it's always the most crowded. i probably like panera the most. i go there probably the most because i feel like they have the biggest variety and it's also the most healthy. >> now, panera would like to hear that. speaking of trends in the second half and panera, panera's investing in technology to speed up service and allow ordering ahead. it's using tablets. that's catching on. technomics says one tablet manufacturer claims appetizer orders rise 20%, dessert orders rise 30% with tablets over human waiters. and that's something to keep in mind as the minimum wage increases. in the gourmet burger category, despite all the hoopla over shake shack, wedbush calls the habit "the most compelling

growth restaurants among growth peers." and as for just plain casual restaurants, the naptrack monitors more than 50 chains, says sales are up but that's due to higher pricing. credit suisse top pick here is darden restaurants, owner of the olive garden and by the way the olive garden is starting to use food trucks to test new menu items. guys, back to you. >> jane wells, thanks so much. technology definitely a theme. take a look at what it's done for dpz, domino's pizza which has been an outperformer so far. they adopt technology long before -- >> and they absolutely crushed it. and everybody else who has adopted it has found exactly what jane mentioned in that report, that you see an uptick in sales, particularly on the appetizer front. so i think anybody who's doing that is fine. most of the -- the problem i have with most of these fast casual names is there's so much competition with them. you look at chipotle how it's traded $600, key level there, i think i'd rather be in terms of the food truck business, the guy selling the trucks. >> exactly. rather than being the food guy. >> you only have gas prices

maybe. but they're down. why are you laughing? >> because pete eats at those food trucks. >> love those trucks. >> pete eats at the street meat place. these food trucks are actual restaurants. >> this times square -- >> down there is pretty good. >> with the oil on the top of his cart. that's not good. his oil is on top of the cart. you can see it. it's disgusting. >> panera. >> i don't know what that young lady's talking about. french onion soup in a bread bowl is not exactly -- >> they should drop the bread from the name panera. it would do wonders for them. >> agreed. this is getting a little expensive. 180 was a level that topped out a couple years ago. it's seemingly having difficulties there. the only thing thaen kurnlt enc me is the short interests continue to grow meaning if they have a decent quarter in a couple weeks you can see a significant short covering rally. >> we've been long darden for a while. there was the low hanging fruit from the activists. now it's less low hanging but they are doing the restructuring of the real estate. that's been sort of interesting. i didn't know there were olive garden food trucks actually. >> and when i'm not at a food

truck i'm going to cmg because i think chipotle is absolutely second to none. the only thing if they can express the lines a little bit. biggest complaint is they get lines out the door. >> maybe with the technology with the increased use that will be faster. still ahead, i know you're not chipotle. >> extra chicken no beans. >> no beans. zbleeno stocks a winner in today investors going all in details after the big move. plus could a deal be back on the table for food giant sysco? keel tell you why some savvy traders are betting the stock could soar. more "fast money" straight ahead. i'm here at the td ameritrade trader offices.

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for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this. big day for the macaw casino stocks. crown, las vegas sands and mgm logging big gains that china will lengthen visas to seven days from the current five. is this a reason to own macaw at is point, guy? >> $50 in lvs it traded down a couple weeks ago bounced traded down again over the last couple days bounced. so if you want to be in the name lvs. if you look at it the stock has not traded well now for the last six to nine months but against $50 if you want to take a shot you get long lvs.

>> i actually got long wynn today. the reason, it's still under the 58 moving average i wish it was above that but it's pushing toward there. huge call buying today. large numbers in terms of the numbers. and what they were paying for -- >> just wynn specifically. >> right. i jumped on those calls. >> but remember, wynn cut their dividend a while back and made a very prudent move. i actually like this trade because you're going to start seeing those bets that at least the dividend may be coming back and macaw's coming back. there's some positive stuff out of this. well done. >> appreciate it. >> still disagreeing on food -- >> sysco shares. sy. the food sysco. fell more than 3% today on the heels of a deutsche bank downgrade. the food giant announcing yesterday it would terminate its merger agreement with u.s. foods but it looks like some traders are sensing a turnaround. mike kuo, what did you see in the action? >> so we saw well over 20 times the average daily call volume. this actually follows a lot of call activity in the name yesterday. so it would seem that options

traders maybe not agreeing with the equity traders here, they were buying the november 39 calls paying about 85 cents for those, ultimately over 25 tho,0f them traded. the second most active call was the november 40 call. both of those bets suggesting maybe there's 10% upside. remember, this stock was actually very close to those levels just last week before the break-up of this deal was announced. and actually net of the stock buyback that they're talking about about 3 billion bucks over two years going to be trading about 16 times full year 2016 eps. net of those accretive effects. this may be a cheap way to make a bullish bet on a bounceback. >> mike, where are you? >> looks like he's at a chipotle. >> i'm in a basement. do you like this? this is very nice. no, actually, i am at the woods hall oceanographic institute in woods hall, massachusetts. >> that's what i was going to say! >> that had to have been your first guess. where else would i be? >> kind of looks like you're in a chinese restaurant.

anyway, mike, thank you. mike kuo. >> if i said that you'd get mad at me. but you say it it's okay. >> yes. >> double standard. >> on "mad money" tonight cramer's guiding you through the greek debacle and calling out the stocks still winning in the crisis. plus 30 ipos in june. which ones are worth buying? cramer's got a list. that's all next on "mad money." plus we've got your first trade tomorrow when we come back. stay tuned. >> are we out of the woods yet or is the worst yet to come? don't miss my take on greece and what's next for this market. plus seven of the newest players on wall street. an epic edition of know your ipo. "mad money" is next! and that unlimited 2% cash back from spark means thousands

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time for the final trade. let's go around the horn. pete. >> you know the health care names particularly the biotechs got hit yesterday, rallied back very nicely today. i like gilead. >> beakers. >> there's still time to protect yourself even though the vix is still up. i think you buy some spy puts. >> karen. >> painful one could be throwing good money after bad but i bought some more kors. if you're afraid because you don't know the down side you can do an august call spread. those were pretty liquid today. >> guy. >> honestly. welcome back to both and you karen. it's nice to have you guys. same day, bang. >> bang, we're all back. >> kite pharma. that juno news. that hole cartise space,

immunotherapy space. kite goes higher. >> i'm melissa lee. thanks for watching. see you tomorrow 5:00 again for more "fast money." meantime, done go anywhere. "mad money" with jim cramer starts right now. my mission is simple -- to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey i'm cramer. welcome to "mad money." welcome to cramer america. my job is not just to entertain, put it into context, to teach you, so call me. or tweet me @jimcramer. nothing like a market that attempts to make sense. this one after an initial misplaced ludicrous bout of euphoria came crashing